Income Tax : The Income-tax Act, 2025 replaces the dividend-based taxation of buy-backs with capital gains taxation for ordinary shareholders, ...
Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple t...
Income Tax : The document provides a detailed summary of the special tax provisions applicable to different securities and classes of taxpayers...
Income Tax : Learn the exemptions available under Sections 54 to 54GB of the Income-tax Act, including eligible investments, timelines, exempti...
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 : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : ITAT held that Section 54F deduction cannot be denied where capital gains are invested in a residential house within the prescribe...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : The ITAT held that a penalty under Section 271AAB cannot survive where the show cause notice fails to specify the exact statutory ...
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...
Delhi ITAT rules that reduction in percentage shareholding due to fresh share issuance is not a transfer under Income Tax law, providing relief to minority shareholders.
The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpayer access. The notification broadens the scheme’s reach while excluding rural branches.
The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhances taxpayer convenience and modernises compliance procedures.
ITAT Chennai holds that Section 87A rebate is available even when total income includes capital gains taxed at special rates, reversing CIT(A)’s denial.
Breaks down eligibility, timelines, and recent caps, clarifying how Section 54 relief is granted and when it can be withdrawn.
ITAT Ahmedabad deleted long-term capital gain addition where assessee incurred significant maintenance and development costs. Key takeaway: factual context and proportional treatment of joint ownership costs are critical.
Tribunal confirmed that incomplete construction does not cancel a transfer under section 2(47)(vi). The matter was remanded for proper computation of capital gains considering partial project completion.
Tribunal remanded matter for a de novo assessment after noting that Assessing Officer passed an ex parte order without examining ownership and consideration details in a capital gains case.
Capital gains liability for non-individual taxpayers under an unregistered Joint Development Agreement (JDA) arises immediately upon execution and granting enjoyment rights (AY 2020-21), based on Section 2(47)(vi) of the Income Tax Act, despite construction delays.
The ITAT Chennai held that ₹1.98 crore received for reduction in profit-sharing ratio in CRCL LLP was not goodwill or taxable income under the Income Tax Act.
