Income Tax : The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the com...
Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes the distortion of t...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Secti...
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 : The ITAT ruled that the Assessing Officer wrongly adopted the stamp duty valuation despite contrary valuation material on record. ...
Income Tax : Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in...
Income Tax : ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposi...
Income Tax : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
Income Tax : The Tribunal upheld tax addition where agricultural land was acquired below stamp duty valuation and DVO-determined fair market va...
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...
What is NFT? NFT means Non Fungible Token. Yes that’s it. Goodbye. Oh no it is more than that, first we will understand the meaning of Non Fungible. Well, it means something that cannot be exchanged for another item because of its uniqueness. For Example- If Mr. John has a unique monalisa art it means […]
Vasantlal Nyalchand Kikavat Vs DCIT (ITAT Mumbai) The case was reopened pursuant to receipt of certain information from investigation wing, Kolkata wherein it was alleged that the assessee was beneficiary of bogus Long-Term Capital gains (LTCG) by dealing in a scrip namely M/s Unisys Software & Holding Industries Ltd. (in short ‘Unisys’). Accordingly, the case […]
Since the introduction of Section 9B of the Income tax Act (‘the Act’), there has been ample of discussions regarding double taxability of same income in the hands of Specified entity, in this regard this article is to give clarity in relation to same. Applicability of Section 9B and Section 45(4) of the Act. Section […]
There is a lot of interpretations and confusion among the taxpayers and other stakeholders regarding the two newly inserted sections – Section 45(4) and Section 9B of Income Tax Act. This article is confined to give the simplified interpretation of the above mentioned section which are related to transfer of Money, Capital asset or Stock […]
Do you intend to buy your first ever real estate property this coming month? Well, congratulations! But did you also know that you could generate rental income from that property of yours? Buying your first real estate property is a significant step for any investor.
When the amount received from the sale of capital asset is less than cost of acquisition plus expenses on transfer can be termed as capital losses. The loss can be earned from any of the Short-Term Capital loss or Long Term Capital loss depending upon the period of holding. Capital Asset is an asset or property […]
Govt of India introduced the Grand Fathering principle in the Indian Income tax Act for the purpose of safeguarding the Unrealised Profit earned by the Assesses upto 31-01-2018. In order to achieve this objective, the Actual Cost of Acquisition of the securities together with the unrealised profit is to be treated as Revised Cost of Acquisition as at 31-01-2018.
Tax on Capital Gains can be saved by making investments in accordance with the exemptions provided under the Income Tax Act, 1961. Tax exemption for the Capital Gain arising out of the sale of long-term capital asset- Investment in specified bonds – Exemption under Section 54 EC – 1.Tax can be saved by investing in bonds […]
Meaning of set off of Losses under Income Tax Act, 1961: Set off means setting of losses against profits of same head of income or may be different during the year. Meaning of carry forward of losses under Income Tax Act, 1961: Carry forward of losses means carrying the losses amount to be be set […]
By Finance Act, 2018 the grandfather clause has been introduced in respect of investment made on or before 31 January 2018 in equity shares or units of an equity-oriented mutual fund. Grandfather provision means – a grandfather clause/grandfather policy/grandfathering is a provision in which an old rule continues to apply to some existing situations while a […]
