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...
Explore Canadian taxation on capital gains and losses with insights from Canada Revenue Agency. Learn the basics, such as calculating proceeds of disposition and adjusted cost base. Discover how to claim capital gains deductions and navigate Schedule 3 for reporting. Dive into real-life case studies and find out about the lifetime capital gains exemption limit. Uncover details about foreign currency transactions and corporation tax implications.
A person wanted to shift his residence due to certain reason, hence, he sold his old house and from the sale proceeds he purchased another house. In this case the objective of the seller was not to earn income by sale of old house but to acquire another suitable house.
ITO Vs Kanubhai M. Patel (ITAT Ahmedabad) Pune Tribunal in the case of Dilip Battu Karanjule v. ITO [2016] 74 taxmann.com 12 (Pune – Trib.) held that where assessee identified land on behalf of existing and known persons and entire money towards purchase of land had been financed by such persons to whom land was ultimately […]
Discover effective techniques to save tax on Capital Gains from the sale of Shares or Mutual Funds. Maximize your investment returns with smart tax planning strategies.
Understand how capital gains are charged under the Income Tax Act 1961. Learn about the definition of capital assets and the exemptions for unit linked insurance policies.
ACIT Vs Byramjee Jeejeebhoy Pvt. Ltd. (ITAT Mumbai) Revenue is aggrieved with the observation of the CIT(A) that the provisions of Sec. 50C of the Act would not stand triggered in respect of the transaction of transfer of reversionary rights of the property in question by the assessee to M/s Yash & Yashika Mercantile (P) […]
Y. Manjula Reddy Vs ITO (ITAT Bangalore) The next impediment in the minds of the tax authorities was that the plot was purchased jointly in the name of the assessee and her husband and hence it should be held that both held 50% right each and hence the assessee could have purchased only her husband’s […]
When an under-construction property is acquired, it is always a subject matter of controversy between the taxpayer and the tax department while determining the holding period of the property to compute capital gain.
Smt. Nalini Anilbhai Amin Vs DCIT (ITAT Ahmedabad) The proceedings, in the instant case, under section 147 of the Act were initiated by the AO on account of escapement of income of the capital gain generated on the sale of the property. This fact can be verified from the reasons recorded by the AO for […]
The value of leasehold interest in land is to be included in assets while determining the fair market value of the shares held and owned by the shareholders as on 01.04.1981
