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Capital Gain

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Slump Sales: A Comprehensive Guide to Structuring Deals for Success

Income Tax : Delve into the intricacies of slump sale as per Section 50B of Income Tax Act in India. Learn about its definition, tax implicatio...

April 21, 2024 2454 Views 2 comments Print

Taxation and Social Equity: Balancing the Scales in India

Finance : Explore the interplay between taxation and social equity in India. Learn how progressive tax policies and targeted measures can ad...

April 19, 2024 174 Views 0 comment Print

Taxability of Offshore Indirect Transfer of Capital Assets situated in India by Non-Resident Corporations/Entities

Income Tax : Learn about tax implications of offshore indirect transfers of Indian capital assets by non-resident entities. Explore Vodafone ca...

April 17, 2024 549 Views 0 comment Print

Analysis of the Different Heads of Income

Income Tax : Explore the intricate details of different heads of income, including salaries, and their tax implications. Gain insights into tax...

April 13, 2024 3105 Views 0 comment Print

Exemption under capital Gain: Section 54, 54B, 54D, 54EC, 54F, 54G & 54GA

Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...

April 3, 2024 1959 Views 3 comments 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 1413 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 1344 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 5835 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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 12741 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 4833 Views 0 comment Print


Latest Judiciary


ITAT Delhi Allows Capital Gain Deduction for Additional Land Acquisition Costs

Income Tax : Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compe...

April 21, 2024 360 Views 0 comment Print

Section 148 Notice cannot be issued to Partner for Transactions Among Partnership Firms

Income Tax : Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed inc...

April 3, 2024 462 Views 0 comment Print

Time Limit to Acquire New House for Section 54 Capital Gains Tax Exemption

Income Tax : Delhi ITAT ruled that to claim capital gains benefit under Sec 54, taxpayers must acquire a residential house within three years f...

March 31, 2024 69876 Views 0 comment Print

ITAT allows Expenditure on power of attorney, air tickets, hotel stays against capital gain

Income Tax : In Adil Rehman's case, ITAT Hyderabad allows expenditure on special power of attorney, air tickets, hotel stays, etc., as deductib...

March 24, 2024 11679 Views 0 comment Print

Deemed Short-Term Capital Gains from Depreciable Asset Sale Eligible for Setoff Against Long-Term Capital Loss

Income Tax : Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of dep...

March 21, 2024 363 Views 0 comment Print


Latest Notifications


NHAI discontinue Section 54EC Capital Gain Bonds issuance w.e.f. 01.04.2022

Income Tax : The Government of India in IEBR for FY 2022-23 have not mandated NHAI to raise funds from the market. Therefore. NHAI shall not is...

March 31, 2022 29601 Views 0 comment Print

Guidelines under clause (10D) section 10 of Income-tax Act, 1961

Income Tax : The Finance Act, 2021 amended clause (10D) of section 10 of the Act by inserting fourth to seventh provisos. Fourth proviso provid...

January 19, 2022 11928 Views 1 comment Print

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 7614 Views 0 comment Print

Draft rules for amendments by Taxation Laws (Amendment) Act, 2021

Income Tax : No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 20...

August 28, 2021 1077 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 3636 Views 0 comment Print


Surplus on redemption of treasury bills taxable under Capital Gains: ITAT Mumbai

January 23, 2024 321 Views 0 comment Print

ITAT Mumbai held that surplus on redemption of treasury bills is taxable under the head Capital Gains and not under the head ‘Profits and Gains of Business’.

Why Government removed Section 10(38) in Union Budget 2018?

January 22, 2024 900 Views 0 comment Print

Discover the motives behind the removal of Income Tax Act’s Section 10(38) in Union Budget 2018. Uncover tax evasion tactics, loopholes, and the government’s response to protect revenue.

Income Tax Case: Section 54F Deduction Upheld for Property in Spouse’s Name

January 22, 2024 1455 Views 0 comment Print

Explore the ITAT Delhi’s landmark decision in Simran Bagga vs. ACIT, clarifying eligibility for income tax deduction under section 54F. Insightful analysis and precedent set for property in the spouse’s name.

No Section 54F Exemption for Property used for Religious purposes: ITAT Hyderabad

January 21, 2024 804 Views 0 comment Print

Explore ACIT Vs Iqbal Ali Khan case at ITAT Hyderabad, challenging disallowance of Section 54F claim on a property used for religious purposes. Detailed analysis and outcome.

Taxation of Convertible Bonds: Rules and Capital Gains

January 18, 2024 1236 Views 2 comments Print

Explore tax implications of convertible bonds. Learn how conversions and subsequent sales are treated under Income Tax Act, 1961. Understand capital gains and exclusions.

Computation of capital gains tax on sale of agricultural land converted into non-agricultural land

January 18, 2024 1782 Views 0 comment Print

Case of Ilaben Bharatbhai Amin vs ITO, recently decided by ITAT Ahmedabad, delves into intricacies of calculating capital gains tax arising from sale of agricultural land that undergoes conversion into non-agricultural land before sale.

Purchased Flat in Minor Daughter’s Name, Deduction U/S 54F Allowed by ITAT

January 16, 2024 801 Views 0 comment Print

Central issue revolved around assessee’s claim for deduction under Section 54F for investing sale proceeds of shares in a residential flat purchased in the name of his minor daughter.

Delhi High Court Closes CCD Taxation Appeals, Awaits Supreme Court’s Final Decision

January 16, 2024 447 Views 0 comment Print

Delhi High Court disposes of CIT Vs Zaheer Mauritius appeals, addressing taxability and capital gains nature of Compulsorily Convertible Debentures under India-Mauritius DTAA.

New house purchased in the name of spouse, eligible for section 54 deduction

January 15, 2024 1824 Views 0 comment Print

ITAT Delhi Bench ruling on eligibility for income tax deduction under Section 54. Learn why a house purchased in the spouse’s name qualifies and understand key considerations.

ITAT Allows section 54 Deduction for property registered in spouse’s name

January 13, 2024 12747 Views 0 comment Print

ITAT Delhi rules in favor of taxpayer Simran Bagga, allowing deduction under section 54 for property registered in spouse’s name. Full text and analysis here.

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