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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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...
ITAT Mumbai states holding period for capital gains should be computed from the allotment letter date, not the sale agreement registration date.
Author attempt a comparative analysis of the taxation of income earned from the Immovable property held for earning Long Term Capital Gain with the most Common Assets which have been taxed at higher rates for a very long time.
Finance Bill 2024 changes taxation of long-term capital gains on non-financial assets: removes indexation, lowers tax to 12.5%, changes holding period to 24 months.
Union Budget 2024 proposes revised holding periods, increased short-term capital gains tax rates, and uniform long-term capital gains tax rates.
Explore FAQs on latest capital gains tax changes effective from July 23, 2024. Simplified holding periods, updated rates, and rollover benefits explained in detail.
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 financial assets.
Understand Income Tax Act rates: Short Term Capital Gains @15% with STT, exceptions to 36-month rule, Long Term Capital Gains, and special rates for lottery winnings and anonymous donations.
Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and commission expenditure.
Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to invest the capital gains in Purchasing another Agricultural land.
Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions, examples, and key details.
