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Capital Gain

Latest Articles


Changes in Capital Gains Taxation: Budget 2024 Amendments

Income Tax : Explore the significant changes in capital gains taxation proposed in Budget 2024, including revised tax rates, holding periods, a...

August 14, 2024 14700 Views 3 comments Print

Real Income: Section 50C & Important Tax Decisions by various Courts

Income Tax : Discover the real implications of Section 50C and significant court rulings affecting real income taxation. Explore crucial tax de...

August 13, 2024 1734 Views 0 comment Print

Section 54F Exemption Can’t Be Denied for mere Lack of Bills & Vouchers

Income Tax : ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of...

August 13, 2024 693 Views 0 comment Print

Capital Assets Indexation It’s Gain and Pain!!

Income Tax : Learn about the restoration of indexation benefits for Long-Term Capital Gains (LTCG) in India, including its impact on taxes for ...

August 13, 2024 840 Views 0 comment Print

Indexation under LTCG on immovable properties – Govt takes away benefit of cost inflation indexation for Income Tax levy

Income Tax : Budget 2024 removes indexation benefits for long-term capital gains on immovable properties, reducing tax rate but increasing the ...

August 8, 2024 20466 Views 2 comments Print


Latest News


Budget 2024: Section 55 amendment- Cost of Acquisition for Unlisted Shares

Income Tax : Finance Bill 2024 amends Section 55 to include fair market value for unlisted shares in IPOs. Changes apply retroactively from Apr...

July 24, 2024 3006 Views 0 comment Print

Simplified Capital Gains Taxation Regime Introduced in Finance Bill 2024

Income Tax : The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced ho...

July 24, 2024 1899 Views 0 comment Print

Budget 2024: Amendment to Section 47 on Capital Asset Transfers

Income Tax : From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific...

July 24, 2024 903 Views 0 comment Print

Budget 2024: Capital Gains Taxation Simplified And Rationalised

Corporate Law : Finance Ministry's new capital gains tax: Short-term gains at 20%, long-term at 12.5%. Exemption limit raised to ₹1.25 lakh for ...

July 23, 2024 1986 Views 0 comment Print

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 1446 Views 0 comment Print


Latest Judiciary


ITAT Orders Re-Adjudication of Section 54F Exemption with Fresh Evidence

Income Tax : Summary of ITAT Raipur decision in Satish Agrawal vs. ITO. The case concerns denied exemption under Section 54F of the Income Tax ...

August 13, 2024 216 Views 0 comment Print

Section 2(14): No capital gains tax on Income proceeds from Agricultural Land

Income Tax : Notice under section 148 was issued upon assessee by AO for reassessing the cash deposit as undisclosed income, following approval...

August 13, 2024 438 Views 0 comment Print

Amount paid by Donor as well as Holding Period of previous owner is required for purpose of computing capital gain in case of ‘Gift’

Income Tax : Assessee, a resident of USA, filed his return claiming refund of Rs.58,57,820/-. During assessment year, assessee had sold two pro...

August 12, 2024 3378 Views 0 comment Print

Holding period computable from allotment letter date & not sale agreement registration date

Income Tax : ITAT Mumbai states holding period for capital gains should be computed from the allotment letter date, not the sale agreement regi...

August 5, 2024 2517 Views 0 comment Print

Tax not leviable on LTCG earned by Mauritius company on sale of share: ITAT Delhi

Income Tax : ITAT Delhi held that long term capital gain on sale of shares in case of the assessee company, being resident of Mauritius, is not...

July 31, 2024 195 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 51804 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 29916 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 13215 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 7839 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 1131 Views 0 comment Print


Taxability of Conversion of Stock in trade to Investment

February 29, 2020 38461 Views 0 comment Print

In case of a business of trading in shares assessee may transfer some of his stock in trade into his capital asset by deciding to hold it as an investment or on discontinue of delivery based trading of shares, convert the stock of shares into investments and sell the same at a later stage and pay tax on the profit as capital gain instead of business profit.

Taxation of joint development agreement

February 28, 2020 137733 Views 16 comments Print

The taxability of capital gains arising on transfer of title to land from the land owner to the developer in a Joint Development Agreement (JDA) has always been a heated issue. The taxation of Joint Development Agreement was never jointly agreed by the A.O. and the Assessee. There were a few hiccups in the law that were driving a way for litigation from decades:

Interest part of Cost of Property & eligible for indexation & deduction

February 28, 2020 45642 Views 1 comment Print

Interest paid  on the borrowing made for acquiring Capital Asset (House Property)  is part of the cost of acquisition and therefore eligible for indexation and deduction from the Sale Consideration  for computation of capital gains. 

AO cannot ignore provisions of section 55(2)(b) in computation of indexed cost

February 26, 2020 3297 Views 0 comment Print

Computation of indexed cost of acquisition by the AO, taking the cost of acquisition at the cost price of 15.04.1976 without considering the provisions of section 55(2) clause (b) and taking the base cost inflation index at 406 is bad in law and we direct that Rs. 8,30,000/- must be taken as the cost of acquisition instead of Rs.1,122/-.. So we order accordingly.

In case of dual views, view adopted by A.O. is valid & cannot be called erroneous

February 25, 2020 1941 Views 0 comment Print

The issue under consideration is that, when two views are possible and A.O. adopt one of the view and passed his order accordingly. But that view is not acceptable by PCIT, in such case can PCIT adopt its one of the other views and call the order of A.O. the erroneous?

Section 10(38) – Tax on Long Term Capital gains from on the transfer of equity oriented funds

February 25, 2020 164133 Views 15 comments Print

Finance Act, 2017 amended section 10(38) of the Income-tax Act, 1961 (the Act) stating that long term capital gains from transfer of listed equity shares acquired on or after 01 October, 2004, would be exempt from tax under section 10(38) of the Act only if the Securities transaction Tax (STT) was paid at the time of acquisition of such shares.

Assessee to Offer Business Income in Year in which Stock-in-Trade was Sold

February 21, 2020 2112 Views 0 comment Print

The issue under consideration is whether in case of real estate, tax liability will be arise when land was sold or when same was contributed for development under JDA?

Whether reduction in share capital amounts to a transfer if consideration is paid

February 18, 2020 3765 Views 0 comment Print

Mumbai ITAT Ruling: Whether reduction in share capital amounts to a transfer and thereby gives rise to capital gains, if consideration is paid for such reduction?

Section 46A | Gains from buyback of shares-Needs some changes?

February 15, 2020 17277 Views 0 comment Print

Earlier Finance Act, 2013 introduced tax on the distributed income by the company on the buyback of the Unlisted Shares vide section 115QA under chapter XVII-DA. The Bare Act language of the section 115QA mentioned below for the reference. 115QA. Tax on distributed income to shareholders. “(1) Notwithstanding anything contained in any other provision of […]

No capital gain tax on amount received by retiring partner

February 15, 2020 17625 Views 0 comment Print

When a retiring partner took only money towards the value of his share on retirement and when there was no distribution of capital asset/ assets going to the partners, there was no transfer of capital asset and consequently no profits or gains was chargeable u/s. 45 (4).

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