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...
Rationalisation of the provisions of section 49 and clause (42A) of section 2 of the Act in respect of segregated portfolios Section 49 of the Act provides for cost of acquisition for the capital asset which became the property of the assessee under certain situations. Further, clause (42A) of section 2 of the Act provides […]
CIT Vs Kishan House Builders Association (Karnataka High Court) The issue under consideration is whether the sale of land which is held as investment is considered as capital gains or business income? High Court states that, from perusal of the entries it is evident that the assessee has not conducted any other activity other than […]
Whatever rights the assessee acquired in the said plot started from 1997, during which year the substantial payment for purchase consideration was also made. The said consideration was recognized in the later registered document, which established the case of assessee of having acquired the rights way back in 1997. Accordingly, the gains arising on transfer of development rights in the hands of assessee would be assessed as ‘long-term capital gains’.
By listing on recognized SME exchange a company can avail numerous benefits under the Income Tax Act. An SME entrepreneur or investor can avail tax benefit on the transfer of shares of a listed company, which ultimately results in enormous tax savings.
As we all are aware that The Union Budget for 2020-21 will be presented in the Lok Sabha on 1st February, 2020) at 11.00 am by our Finance Minister Nirmala Sitharman. As per every year, this year also Institute of Chartered Accountants of India has submitted its Pre Budget Memorandum to the government. Today we […]
It is a well settled and in substance a legal precedent that what is subject to tax is a real income. The principle of real income has been subject matter of intrinsic litigation in past and the possibility of probable dispute on the scope of what constitutes real income in days to come cannot be completely ruled out despite there have been series of amendments/clarification brought into the existing provisions of the Income Tax Act 1961 (the Act).
Article explains Eligibility For Startups In India, Tax exemptions allowable to eligible startups which includes 3 year tax holiday in a block of seven years, Exemption from tax on Long-term capital gains, Tax exemption on investments above the fair market value, Tax exemption to Individual/HUF on investment of long-term capital gain in equity shares of […]
Article explains how Speculative Business is Distinct Business, What is speculative transaction, What shall not deemed to be speculative transactions, What is Eligible Transaction for security derivative, Recognised stock exchange for Section 43(5), Recognised association for Section 43(5), What are the Eligible Transaction for Commodity derivative, Do Single transaction constitute speculative business, Treatment of Losses […]
In this article author is trying to discuss certain things regarding capital gains such as how to calculate indexed cost of acquisition, indexed cost of improvement, what is the latest cost inflation index, certain important exemptions from long term capital gains, etc
Friends, In my view, Capital Gain has more debatable issues than any other source of income under the Income Tax. Today in this article I have tried to take one such issue under the capital gain. The issue is taxability of Agriculture Land. Broadly, there are two categories, For Income Tax purpose, in which the […]
