Income Tax : Section 50AA overrides the normal holding period rules and deems gains from specified assets as short-term capital gains, even if ...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : The article explains how different interpretations of Section 112 may produce either nil tax or a positive tax liability for the s...
Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...
Corporate Law : Finance Ministry's new capital gains tax: Short-term gains at 20%, long-term at 12.5%. Exemption limit raised to ₹1.25 lakh for ...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Chennai held that penalty under Section 271(1)(c) cannot survive when the AO accepts the income declared in the return filed ...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : ITAT Chennai held that inclusion of taxable long-term capital gains in total income does not disentitle an assessee from claiming ...
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 : 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...
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...
Taxpayers receiving income tax notices for additional tax on capital gains due to changes in Section 87A interpretation, affecting STCG and LTCG exemption.
Explore key amendments under capital gains in the 2024-25 budget, including changes to buyback tax, indexation removal, and capital asset transfer exemptions.
Assessee-company was engaged in the business of trading of electromechanical relays, wire and wireless equipment, high performance polymeric products, highly specialized energy related products, was subject to scrutiny.
Understand the ITAT Chennai ruling on valid claims for Long-Term Capital Gains. Learn the tax implications of property sale, liabilities, and deductions under Section 48.
Budget 2024 revises LTCG tax on property sales, cutting indexation benefits and affecting real estate investments. Learn how this impacts your tax planning.
Summary of ITAT Raipur decision in Satish Agrawal vs. ITO. The case concerns denied exemption under Section 54F of the Income Tax Act for AY 2014-15.
ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of natural justice.
Learn about the restoration of indexation benefits for Long-Term Capital Gains (LTCG) in India, including its impact on taxes for land, buildings, and more.
Budget 2024 removes indexation benefits for long-term capital gains on immovable properties, reducing tax rate but increasing the overall tax burden.
The removal of indexation for LTCG under the Finance Bill 2024 introduces complexities. Taxpayers can choose between 12.5% without indexation or 20% with it.
