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Capital Gain

Latest Articles


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 1734 Views 3 comments Print

Taxation of Debt Funds

Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...

March 29, 2024 1080 Views 0 comment Print

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 2034 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 732 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 1122 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 1338 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 5826 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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 4806 Views 0 comment Print


Latest Judiciary


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 417 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 69498 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 11640 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 339 Views 0 comment Print

Kolkata ITAT Deletes AO’s Capital Gains Addition Based on DVO’s Property Value

Income Tax : Arijit Chakraborty vs ITO: Kolkata ITAT deletes addition made by AO upon capital gains by adopting value of property as per DVO's ...

March 20, 2024 522 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 29541 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 11865 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 7602 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 1071 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 3624 Views 0 comment Print


Property Allotment Date is acquisition date for Capital Gain Computation: ITAT Mumbai

December 31, 2023 13761 Views 0 comment Print

Read ITAT Mumbai order setting property allotment date as acquisition date for capital gain computation. Details of D.K. Brothers vs. ITO case and implications.

Understanding the Tax Implications of Joint Development Agreements in India

December 30, 2023 7785 Views 3 comments Print

In this article, we will delve into the taxability of such transactions, specifically focusing on the provisions outlined in Section 45(5A) of the Income Tax Act.

Taxation of Sale of Immovable Property by Non Residents

December 25, 2023 9960 Views 0 comment Print

Understand taxation of immovable property sale by non-residents with insights from Income Tax Department. Explore capital gains calculation, deductions, TDS requirements, and repatriation rules for a seamless property transaction.

Section 2(14) Capital Assets – Meaning, Definition, FAQ’s & Case Laws

December 7, 2023 9900 Views 6 comments Print

Explore the meaning and definition of Section 2(14) Capital Assets, including FAQ’s, case laws, and exemptions. Learn how it applies to agricultural land and its tax implications.

Section 50C Addition Cannot be Made by CPC Under Section 143(1)

November 30, 2023 6210 Views 0 comment Print

Prabha Anil Gandhi vs. ADIT (ITAT Mumbai): ITAT rules on CPC’s jurisdiction, Section 50C adjustments, and processing under section 143(1).

Deduction from Capital Gain on Transfer of Capital Assets other than Residential House Property (Section 54F)

November 25, 2023 48549 Views 3 comments Print

Explore the intricacies of Section 54F for capital gains deduction. Learn the conditions, time limits, and nuances to optimize your tax benefits on property sales.

All about Taxation on sale of Immovable property

November 24, 2023 21186 Views 0 comment Print

Dive into the intricacies of taxation on the sale of immovable property in India. Understand capital gains, calculations, tax implications, and explore FAQs covering aspects like indexation benefits, renovations, inheritance or gifts, stamp duty impact, and strategies to save taxes through various investments. Get insights on navigating tax regulations and consult with professionals for comprehensive guidance on optimizing tax liabilities

Long Term Capital Gain Tax Exemption by investment in Section 54EC Bonds

November 24, 2023 4068 Views 0 comment Print

Explore Section 54EC under Income Tax Act, allowing exemption from long-term capital gains when investing in specified bonds. Conditions and benefits explained.

Income-Tax Implications: Joint Development Agreement & Property Transactions

November 18, 2023 24870 Views 17 comments Print

Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A) of the Income-tax Act, 1961, covering mechanisms, tax implications, and legal provisions. Learn about tracking ITC temporary reversals, reclaiming reversals, reporting in 4D(1), avoiding excess claims, and calculating aggregate ITC. Master ECRRS for accurate and seamless GST compliance. Stay informed, stay compliant! #IncomeTax #PropertyTransactions #JointDevelopmentAgreement

Section 54/54F deduction on purchase of two adjacent & joint flats: ITAT Restores Case

November 5, 2023 4062 Views 0 comment Print

Learn about the ITAT Delhi ruling in Amrik Sokhi vs. ITO for A.Y. 2015-16, where the claim of capital gain deduction u/s 54 is restored for verification. Details here.

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