Income Tax : The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the com...
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes the distortion of t...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Secti...
Income Tax : India and France have signed a protocol granting full taxing rights on capital gains from share sales to the country of company re...
Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...
Income Tax : Finance Bill 2024 amends Section 55 to include fair market value for unlisted shares in IPOs. Changes apply retroactively from Apr...
Income Tax : The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced ho...
Income Tax : From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific...
Income Tax : The ITAT ruled that the Assessing Officer wrongly adopted the stamp duty valuation despite contrary valuation material on record. ...
Income Tax : Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in...
Income Tax : ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposi...
Income Tax : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
Income Tax : The Tribunal upheld tax addition where agricultural land was acquired below stamp duty valuation and DVO-determined fair market va...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
Income Tax : The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhan...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effectiv...
Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...
Judicial rulings confirm interior decoration expenses like modular kitchens and wardrobes are eligible for tax exemption under Sections 54 & 54F if they ensure the house is habitable.
ITAT Mumbai held that long-term capital gains on sale of land are taxable in the year of transfer of possession and payment, even if the formal sale deed is executed later. The decision emphasizes the principle of substance over form under Section 2(47).
ITAT Hyderabad deleted the Capital Gains addition in AY 2016-17, ruling that conditional possession under a JDA for mere development is NOT transfer u/s 2(47)(v). Tax is due only when full possession is handed over, confirming taxability in AY 2019-20.
Overview of Capital Gains tax: definition of capital asset, distinction between short-term and long-term assets, meaning of transfer, list of exempt transactions, and the computation formula, including indexation rules and recent amendments.
Two CIT(A) rulings confirm the Section 87A tax rebate applies to total income up to Rs.7 lakh, even with Short-Term Capital Gains (STCG) u/s 111A, for taxpayers under the new 115BAC(1A) regime.
This guide explains the concept, calculation formula, and notified values of CII from 2001-02 to 2025-26, as per CBDT. A must-read for taxpayers and investors calculating capital gains.
Summary of Income Tax Sections 111A, 112A, 115A-115AD, detailing flat tax rates on short and long-term capital gains, and specific income taxation for non-residents.
ITAT Delhi rules in Mahabir vs ITO that the 1994 CBDT notification defines agricultural land limits for capital gains tax. Subsequent municipal expansions are irrelevant. Land 6km from Sohna Municipality was deemed non-taxable.
The issue was whether agricultural land compulsorily acquired in NOIDA was a taxable capital asset. The ITAT, relying on judicial precedent, ruled it was pure agricultural land and thus not taxable, rejecting the taxman’s attempt to treat the NOIDA area as a municipality.
Analysis of Capital Gains Exemptions (Sec 54, 54B, 54EC, 54F, etc.) for individuals and businesses, covering reinvestment in property, agricultural land, specified bonds, and industrial relocation, including judicial view on compliance requirements.
