Income Tax : Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F cla...
Income Tax : Compare STCG and LTCG under the new regime FY24-25. Learn about tax rate changes, holding periods, thresholds, and set-off rules f...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Understand the new capital gains tax rules for Gold ETFs & MFs effective April 2025. Learn about holding periods, tax rates, and e...
Income Tax : Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and ag...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 : Kolkata ITAT permits Minu Gupta's LTCG exemption claim, citing lack of specific evidence against her despite AO's reliance on gene...
Income Tax : ITAT Kolkata rules in favor of Raj Kumar Kabra's LTCG claim, stressing the need for specific evidence over general suspicion in t...
Income Tax : ITAT Kolkata permits Pawan Kumar Kabra's LTCG claim, emphasizing the need for specific evidence over general suspicion in assessme...
Income Tax : ITAT Kolkata deleted an addition related to bogus long-term capital gain, finding the assessee's share transactions to be genuine ...
Income Tax : ITAT Delhi overturns LTCG addition for Rajeev Agarwal & Sons due to denial of cross-examination on key statements. Genuine transac...
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...
During the assessment proceedings, it was observed that the assessee sold two trademarks “Coldarin” and “Raricap”. The gains accrued on the transfer of both these capital assets gave rise to income chargeable to tax under the head “Capital Gains”.
ITAT Mumbai rules in favor of Ramesh Rikhavdas Shah, rejecting AO’s additions on alleged penny stock transactions and commission expenses for AYs 2014-15, 2015-16.
ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Section 112A. Assessee’s appeal dismissed.
ITAT Delhi’s ruling in Mahavir Prasad Gupta vs. JCIT (AY 1997-98) addresses Section 54F exemption, long-term capital gains, and interest under Sections 234B & 234C.
Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and agricultural land considerations.
Capital gain is considered as the gain/profit on sale of property which is arrived at by deducting the Purchase Price from its Sale Price and the tax is to be paid on that gain which is termed as Capital Gain tax. There are two types of gains that arise on Sale/transfer of property and those are Short term Capital Gain (STCG) and Long term Capital Gain (LTCG).
Bombay HC rules in CIT vs. Nitish Chordia that agricultural land distance must be measured by road, not aerial view, impacting capital gains tax exemptions.
ITAT Bangalore ruled on the taxability of Transferable Development Rights (TDR) in the case of Smt. Sowmya Sathyan vs. ITO, clarifying its classification under income tax laws.
ITAT Pune ruled on capital gains in Smt. Vimal Baburao Jadhav Vs ITO. The Tribunal held Section 50C inapplicable, recalculating LTCG based on actual transactions.
Chennai ITAT directs AO to review e-notices and deductions u/s 54 in ₹1.8 crore capital gains case, giving assessee another chance to present evidence.
