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Capital Gain

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Capital Gains – Profit-Loss, Taxability and Exemptions

CA, CS, CMA : Learn about capital gains tax, how profit-loss is calculated, and available exemptions. Understand the tax implications for differ...

June 18, 2024 3120 Views 0 comment Print

Taxation of Surplus from Zero-Coupon NCDs: Interest or Capital Gains?

Income Tax : Understand the tax implications of surplus on redemption of zero-coupon NCDs: Is it interest income or capital gains? Learn from r...

June 15, 2024 1224 Views 0 comment Print

Cost Inflation Index (CII): Meaning, Index from 1981-82 to 2024-25 & Benefits

Income Tax : CBDT has provided CII for financial years 1981-82 to 2024-25. This index is crucial for calculating indexed cost of acquisition, w...

June 6, 2024 3729 Views 0 comment Print

How to minimize/reduce income taxes when selling shares?

Income Tax : Learn effective and legal strategies to minimize income taxes when selling shares, including real-time profit and loss management ...

June 5, 2024 2334 Views 0 comment Print

Redevelopment of society – Tax implications

Income Tax : Understanding the tax implications of society redevelopment under the Indian Income Tax Act, covering aspects like capital gains, ...

May 29, 2024 2034 Views 0 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 1431 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 1374 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 5895 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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 12771 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 4926 Views 0 comment Print

Latest Judiciary

ITAT quahses Section 270A Penalty Despite Non-Filing of Return for Capital Gains on Property

Income Tax : Understand the implications of the Parulben Vijaykumar Patel vs ITO case from ITAT Ahmedabad. Detailed analysis and conclusion pro...

June 15, 2024 777 Views 0 comment Print

Bonus Shares Have Nil Acquisition Cost for Capital Gains Calculation: ITAT Bangalore

Income Tax : ITAT Bangalore dismisses valuation of bonus shares under Income Tax Act sec. 55(2)(aa)B. Detailed analysis of Zash Traders vs ACIT...

June 13, 2024 366 Views 0 comment Print

Violation of Section 269SS: Section 271D penalty Applies, Not Section 68 addition

Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...

May 26, 2024 2520 Views 0 comment Print

HC allows Section 54F exemption for all five flats received as part of development agreement

Income Tax : Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analy...

May 26, 2024 11889 Views 0 comment Print

House’ Refers to Single Residential Unit for Section 54 Deduction: ITAT Chennai

Income Tax : Detailed analysis of ITAT Chennai order on Shri Srikanth appeal against the disallowance of Section 54 deductions in the computati...

May 24, 2024 1704 Views 0 comment Print

Latest Notifications

CBDT notifies Cost Inflation Index for Financial Year 2024-25

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...

May 24, 2024 48987 Views 0 comment Print

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 29793 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 12420 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 7749 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 1122 Views 0 comment Print

Capital Loss from Listed Shares and Equity Mutual Funds

June 28, 2020 76415 Views 15 comments Print

In India, the income from long term capital gains on transfer of Shares and Mutual Funds on which security transaction tax (STT) has been paid, is exempt from levy of income tax under section 10(38) of the Income Tax Act, 1961 (‘the Act’). This is a well known exemption amongst the tax payers and investors in India.

Taxability of Chaotic Interest Incomes from Acquisition of Land

June 26, 2020 32984 Views 14 comments Print

The scope of this write up is an attempt to clarify chaos that is taxability of various incomes (specifically interest) from compulsory acquisition of land. Types of income which an asset under consideration can result are capital gain (if asset is a capital asset), interest on compensation or enhanced compensation.

Transfer of land held as stock on HUF partition not amounts to conversion into Capital Asset

June 25, 2020 1782 Views 0 comment Print

The issue under consideration is whether land held as stock, transferred upon HUF – partition, tantamount to conversion into capital asset for the purpose of imposing a capital gain tax?

Decoding ‘One House’, ‘One Unit’ Concept in Section 54F

June 24, 2020 19821 Views 5 comments Print

Assesses wanting to claim exemption u/s 54F should ensure that there is unity of structure and they are indeed just independent units and not independent houses altogether that are located in different places.

Year of taxability of unutilised portion of capital gains- Section 54/54F

June 23, 2020 5745 Views 0 comment Print

Deepak Bhardwaj Vs ITO (ITAT Delhi) Only question that arises for our consideration is whether the unutilised portion of capital gains is liable for tax either in the year in which such long term capital gains arose or in the year in which the period of 3 years for such utilisation expires. Under identical facts […]

Slump Sale and Related Income Tax Provisions

June 23, 2020 147411 Views 9 comments Print

In the process of integration of the Indian economy with the world economy, a number of companies are going for restructuring to gain benefits from large scale operations and focus upon its core competencies. In the restructuring exercise, certain companies sell off their unprofitable business activities and the business activity as a whole is sold along with assets and liabilities.

Section 50C of Income Tax Act, 1961- FAQs

June 22, 2020 47562 Views 17 comments Print

Section 50C says that when an individual sells land or building or both at a consideration lower than the Stamp duty value adopted or assessable by authority, then the Stamp duty value adopted or assessable by authority of property would be deemed to be the sales consideration for computation of Capital Gain under section 48 of Income Tax Act, 1961.

No Capital Gain Tax if Consideration not Discharged by Purchaser

June 18, 2020 26664 Views 0 comment Print

whether the AO is correct in chargeing capital gain in the hands of assessee irrespective of the fact that the full consideration not received by the assessee?

Capital Gains & Interest on compensation received on Compulsory acquisition of urban agricultural land

June 16, 2020 69090 Views 3 comments Print

Capital Gains & Interest on compensation received on Compulsory acquisition of urban agricultural land Section 10(37) inserted by the Finance Act, 2004, with effect from 01.04.2005 (from assessment year 2005-06). Under Section 10(37) of the Income Tax Act, Capital Gains on compensation received on compulsory acquisition of urban agricultural land is exempt from tax. Background With a view to mitigate the […]

Provisions of section 55 – ‘Stamp duty value’ X ‘cost of acquisition’ (Amendment – Rationalisation in Reverse Gear)

June 15, 2020 16713 Views 7 comments Print

There is no correlation – real or virtual- between the ‘stamp duty value’ and ‘cost of acquisition’; and, as such, the amendment as proposed is both in Form and Substance, wanting/ devoid of any merit!

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