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...
Delve into the Prem Naraindas Raney Vs DCIT (ITAT Mumbai) case to understand the complexities surrounding the set-off of short-term capital loss against gains under section 70 and 71 of the Income Tax Act, 1961.
ITAT Delhi passed a significant judgment in ITO Vs Essjay Enterprises, focusing on classification of income derived from sale of agricultural land and shares.
Section 54 and 54F of the Income Tax Act governs the provisions of Capital Gain Tax Exemptions. The practical aspect of the transfer of property and capital Gain Exemption thereof is always subject to litigation. The judgments pronounced by the Hon’ble Court & ITAT provide guidelines to the assessee in this regard.
Learn about tax implications for sellers and buyers of immovable property. Understand capital gains, stamp duty, tax withholding, and reporting obligations.
ITAT Delhi permits a Section 54 deduction that wasn’t claimed in original or revised returns. The case highlights the powers of appellate authorities.
Learn how to save income tax on sale of a residential house in India under Section 54 of Income-tax Act, 1961. Complete guide and practical scenarios.
ITAT Mumbai held that the assessee not entitled to deduction u/s 48(i) of the Act for repayment of the mortgage debt which was incurred subsequent to the acquisition of the property and not for the purpose of acquisition.
Analysis of ITAT Delhi’s ruling in Bushra Javed Vs ACIT: Indexation benefits for acquisition costs based on payment year. Read the full legal insight here.
Understand new taxation rules for Debt Oriented Mutual Funds post-Budget 2023 amendments. Learn about impact on investors and their implications.
ITAT Mumbai held that shares held as investment is taxable under capital gain. The same cannot be treated as business income on the ground that the assessee was participating in the business of JMMSSPL and had had transferred the controlling/business interest.
