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Capital Gain

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Understanding the Capital Gain Account Scheme

Income Tax : Understand the Capital Gain Account Scheme (CGAS) introduced by the Indian Government to defer tax liability on capital gains unti...

March 23, 2024 1704 Views 0 comment Print

Comprehensive Guide to Sale of Inherited Property by Non-Resident Indians

Income Tax : Learn essential steps and tax provisions for Non-Resident Indians (NRIs) selling inherited property. Understand laws, remittance l...

March 18, 2024 651 Views 0 comment Print

No Income Tax on Compulsory Acquisition of Rural Land

Income Tax : Explore how land acquisition for development projects like road widening impacts taxation for rural landowners under the Income Ta...

February 29, 2024 999 Views 1 comment Print

Taxation In Case of Stock Market Transactions

Income Tax : Unlock the intricacies of income tax implications for stock market transactions in India, covering capital gains, F&O trading, and...

February 20, 2024 3006 Views 2 comments Print

Leveraging DTAA to Minimize Capital Gain Taxes for NRIs

Income Tax : Learn how Non-Resident Indians (NRIs) in Germany, Singapore, UAE, Netherlands, and more can reduce capital gain taxes in India usi...

February 19, 2024 1887 Views 1 comment Print


Latest News


Key Features & Benefits of Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be ...

August 13, 2021 1407 Views 0 comment Print

Analysis of The Taxation Laws (Amendment) Bill, 2021 by ICAI CMA

Income Tax : The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act...

August 11, 2021 1335 Views 0 comment Print

4 Major Tax Exemptions to Startups

Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...

December 11, 2019 5814 Views 0 comment Print

Draft Notification on Tax on Long Term Capital Gain on Shares

Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...

April 24, 2018 12738 Views 0 comment Print

Amend Sec. 47(viab) related to indirect transfer of capital asset situated in India

Income Tax : The Finance Act, 2015 has amended provisions dealing with indirect transfer of capital asset situated in India. The amendment prov...

December 28, 2017 4788 Views 0 comment Print


Latest Notifications


CBDT Notification on Computation of capital gains, not exempt under Section 10(10D)

Income Tax : CBDT vide Notification No. 8/2022-Income tax notifies Rule 8AD Computation of capital gains for the purposes of sub-section (1B) o...

January 18, 2022 7575 Views 0 comment Print

Taxation Laws (Amendment) Act, 2021

Income Tax : In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the follow...

August 14, 2021 3621 Views 0 comment Print

Taxation Laws (Amendment) Bill, 2021

Income Tax : Taxation Laws (Amendment) Bill, 2021 is introduced in Lok Sabha on 05th August 2021. Bill is further to amend the Income-tax Act, ...

August 5, 2021 7920 Views 0 comment Print

Rule 8AC Computation of short term capital gains & written down

Income Tax : CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where deprec...

July 7, 2021 7335 Views 0 comment Print

Cost Inflation Index for Financial Year 2020-21- CBDT Notifies

Income Tax : CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide  Notification No. 32/202...

June 12, 2020 31401 Views 0 comment Print


In absence of transfer Income cannot be treated as Capital Gain

September 16, 2022 1758 Views 0 comment Print

DCIT Vs Virendrabhai Devjibhai Patel (ITAT Surat) ITAT observed that the transactions were done by the assessee and the real investment in the transaction was carried out by Shri. Dharmeshbhai Patel (in short SDP). The assessee and Shri. Dharmeshbhai Patel (SDP) entered into an arrangement wherein, Shri. Dharmeshbhai Patel (SDP) provided the money required to […]

Conversion of proprietary concern into a Pvt. Ltd. Company – No Capital Gains on Transfer of Goodwill acquired by incurring cost

September 7, 2022 1572 Views 0 comment Print

ITAT held that even if you invoke provisions of Sec.47A(3) of the Act, to withdraw exemption granted u/s.47(xiv)(b) of the Act, but, in principle there cannot be any capital gains on transfer of goodwill, because, said goodwill is not self-generated or created on account of conversion of proprietary concern into a Pvt. Ltd. Co., but acquired by incurring cost.

Taxation of Unlisted Share and Biggest Catch in Disclosure in ITR

September 7, 2022 4995 Views 0 comment Print

Unlock the complexities of Unlisted Share Taxation! Explore the nuances of Off-Market and Regular Sale scenarios. Learn about Capital Gains Tax, exemptions, and the critical catch in disclosure for a seamless ITR filing.

Section 54 Capital gain exemption cannot be denied for claim under section 54F & non-filing of revised return

August 30, 2022 4734 Views 0 comment Print

Section 54 Capital gain exemption cannot be denied for claim under section 54F & non-filing of revised Income Tax return

Decoding Sections 54 and 54F of Income-Tax Act, 1961

August 23, 2022 51555 Views 1 comment Print

Sections 54 and 54F of Income tax Act, 1961 contain the provisions for claiming the deduction relating to long-term capital gains on the sale of house property and other capital assets and reinvestment while purchasing of residential house property.

Tax Harvesting: It’s Not As Difficult As You Think

August 23, 2022 4140 Views 3 comments Print

Long-term capital gains (LTCG) made on the sale of equity shares, and equity funds were completely tax-free in your hands before March 2018. However, the amendment made in the Union Budget 2018 has changed the tax treatment of LTCG on sale of listed equity shares and equity funds.

No wilful mis-statement or suppression of facts in case capital gains tax was paid on profit/compensation received

August 22, 2022 711 Views 0 comment Print

Since the whole case of Revenue was based on the balance sheets of assessee who had declared all the transactions in their records and had even paid capital gains tax on the profit/compensation received, therefore,  it could not be said that assessee had resorted to wilful mis-statement or suppression of facts or had contravened of any of the provisions of service tax law with intent to evade payment of service tax.

Portfolio Management Services income taxable under ‘Capital gains’

August 21, 2022 6618 Views 0 comment Print

Portfolio Management Services earning should be assessed as ‘Capital gains’ and not as ‘Profit and gains of business or profession’.

Section 54: Land value includible in cost of new residential house

August 19, 2022 5109 Views 0 comment Print

Section 54 Cost of new residential house includes cost of land construction materials labour & other cost of construction of residential house

No tax on capital gain in case of permissive possession in Immovable Property

August 18, 2022 2463 Views 0 comment Print

Assessee had given permissive possession and not legal possession, as contemplated within the meaning of section 53A of the Transfer of Property Act. Therefore, the provisions of section 53A of the Transfer of Property Act, were not applicable to the impugned Joint Development Agreement and the conditions laid down in section 2(47)(v), could not be invoked, so as to bring the capital gains into tax in the assessment year 2012-­2013.

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