Income Tax : Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to inv...
Income Tax : Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions...
Income Tax : Discover how Section 54 & 54F exemptions extend beyond property owners to include spouses and legal heirs. Explore recent ITAT rul...
Income Tax : Understand the key differences between Section 54 and Section 54F for LTCG exemption through investment in residential property. E...
Income Tax : Discover eligibility, conditions, exemptions, and examples under Section 54 for capital gains on the transfer of residential house...
Income Tax : 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemp...
Income Tax : Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions t...
Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...
Income Tax : In order to curb the practice of declaring unaccounted income as exempt long term capital gain by entering into sham transactions,...
Corporate Law : Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2...
Income Tax : Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and com...
Income Tax : MP High Court dismisses the Income Tax Dept's appeal against Gopal Tayal, upholding ITAT's decision on alleged bogus penny stock L...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analy...
Income Tax : Detailed analysis of ITAT Chennai order on Shri Srikanth appeal against the disallowance of Section 54 deductions in the computati...
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...
Income Tax : There was a report in certain section of media that stock traders/day traders are required to furnish scrip wise details in the re...
Income Tax : CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide Notification No. 32/202...
Income Tax : Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several queries have been raised in different fora on vari...
Income Tax : CBDT has vice Notification No. 44/2017 notified Cost Inflation indexes with Base Year as 2001-02 for the Financial Year 2001-02 to...
Buying a house is a dream for each one of us. There are various tax incentives offered by government towards stimulating individuals to buy house property under ‘Housing for All’ Mission. However it is of vital importance to keep an eye on calendar to time it well when we want to sell house property since […]
Taxation of Long Term Capital Gain (LTCG) under section 112A vis a vis Taxation of Long term Capital Gain Prior to Finance Act, 2018 We all saw an Havoc amongst taxpayers when Finance Act, 2018 was announced in the union budget speech specifically among those assessees whose major part of their total income consisted of […]
SEC 112A- LTCG ON SALE OF CERTAIN ASSETS (Inserted by Finance Act 2018, w.e.f. 01.04.2019) Concessional rate of tax on transfer of Certain assets: (A) The above section 112A is applicable on the following circumstances (a) Long term capital gain arising from transfer of the following assets (i) an equity share in a company (ii) a […]
The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short Term Capital Gains?
ITAT Mumbai: Anjana Sandeep Rathi vs. ACIT – Disputed LTCG on share sale. Violation of natural justice. Detailed analysis of the judgment and impact.
This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest.
Compulsory acquisition is the power of government to acquireprivate rights in land without the willing consent of its owner or occupant in order to benefit society. Compensation against such acquisition is provided to the assessee by the government.
Shri Suresh Kumar Agarwal Vs ACIT (ITAT Delhi) ITAT deleted addition made u/s 68 for alleged bogus LTCG of Rs.56,43,084/- on merits holding that Ld AO failed to bring any cogent material in addition to report of Directorate of Investigation Kolkata about Jamakharchi /Penny stock companies and convert its reasons into a fact , thereby […]
After my article on tax implication of different treatments of profits on sale of shares, I have received unprecedented number of mails asking for clarification as to when it is to be treated as capital gains and when it can be treated as business income. So I decided to write an article on the subject proper as to when it can be treated as capital gains and when as business income. Though the Income tax laws provides for taxation of profit on transfer of capital asset under the head capital gains, there are situations/cases when the activity of buying and selling of listed shares is treated as trading activity either by the tax payer or by the revenue authorities and any profit on it is taxed as business income.
CA Sudeep Chhallani Introduction Due to high-sky increase in land prices and avoiding outright purchase of land by making heavy investment today real estate developers often enter into the Joint Development Agreement (JDA) with the land owners wherein the real estate developers are entrusted with the task of developing land. Similarly the land owners also […]
