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...
Taxation on Capital gain on shares & securities has always been a matter of concern for investors since special rates apply on Income from capital gain. In the table below, we have bifurcated the capital gain assets on the basis of period of holding & type of entities: ASSETS PERIOD OF HOLDING SHORT TERM/ LONG […]
Income from selling listed shares can be taxed under:- ♦ Capital Gain ♦ Business income or ♦ Speculative Business income. Let us first understand the types of Trading:- 1. Intraday Trading – Shares are bought & sold on the same day without taking the delivery of the shares. 2. Futures & Option Trading – Here […]
Categorization of Short term and Long Term Asset: Type Termed as Short–Term If Holding period is: Termed as Long-term if Holding period is : Equity funds (Note-1) Less than 12 months 12 months and more Debt funds (Note-2) If less than 36 months More than 36 months Hybrid equity-oriented funds If less than 12 months […]
Article deals with Exemption from Long Term Capital Gain Tax under Section 54, 54EC, 54F of Income Tax Act, 1961. Article explains on Sale / Purchase of which Asset under which section exemption is eligible, condition for such exemption, Quantum of Deduction and Exceptions to Exemption under Section 54, 54EC, 54F of Income Tax Act, […]
Rule-8AC of Income Tax Rules, 1962- Computation of STCG And WDV U/S 50 Where Depreciation On Goodwill Has Been Claimed Section-50 of Income tax Act deals with computation of capital gain in case of depreciable assets. By introducing Notification No. 77/2021 dated 07.07.2021, CBDT inserted the rule no-8AC after rule 8AB by further amending the […]
Hello friends, here we discussed Section 9B, Section 45(4), & Section 48 of the Income Tax Act SECTION 9B OF INCOME TAX ACT Finance Act 2021, introduced a new section, section 9B under income tax act which specifies the provision related to transfer of Capital Assets or stock in trade on Reconstitution or Dissolution of […]
It was well settled position, before the amendments made by Finance Act 2021, that the depreciation can be claimed on ‘Purchased Goodwill’ under the Income tax Law and it was also supported by the decision of Hon’ble Supreme Court in the case of Jogta Coal Co. Ltd. v. CIT 36 ITR 521 where the treatment […]
Improvement of owner’s title to asset is different from improving asset itself | Section 48, 49, and 55 of the Income Tax Act, 1961 Cost of improvement which is liable to be deducted , should be an improvement to the asset itself , not an improvement of the owner’s title to the asset . Meaning […]
CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where depreciation on goodwill has been obtained vide Notification No. 77/2021-Income Tax | Dated: 7th July, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 77/2021-Income Tax | […]
Taxability on transfer of Capital Assets/Stock-in-trade from specified entity to specified person The Finance Act 2021, has inserted Section 9B, Section 48(iii) and substituted section 45(4) of the Income Tax Act. The deeming provisions shall be applicable from Assessment Year 2021-22. For the purpose of this article, the term specified person and specified entity is […]
