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 : Capital gain is considered as the gain/profit on sale of property which is arrived at by deducting the Purchase Price from its Sal...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : The Finance Bill 2025 increases the tax rate to 12.5% on long-term capital gains from securities for Foreign Institutional Investo...
CA, CS, CMA : Understand the tax implications on LTCG of immovable property under Section 112, including holding periods, tax rates, and example...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 Delhi's ruling in Mahavir Prasad Gupta vs. JCIT (AY 1997-98) addresses Section 54F exemption, long-term capital gains, and in...
Income Tax : Bombay HC rules in CIT vs. Nitish Chordia that agricultural land distance must be measured by road, not aerial view, impacting cap...
Income Tax : ITAT Bangalore ruled on the taxability of Transferable Development Rights (TDR) in the case of Smt. Sowmya Sathyan vs. ITO, clarif...
Income Tax : ITAT Pune ruled on capital gains in Smt. Vimal Baburao Jadhav Vs ITO. The Tribunal held Section 50C inapplicable, recalculating LT...
Income Tax : Chennai ITAT directs AO to review e-notices and deductions u/s 54 in ₹1.8 crore capital gains case, giving assessee another chan...
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...
Impact of tax on long-term capital gains (LTCGs) , grandfathering & assessment of revised / concessional tax rate The article illustrates taxation on long term capital gains of equity shares under the grandfathering provisions aligned with change in tax rate under the Taxation (Amendment) Ordinance, 2019: I. Tax on Long-term capital gains Long-term capital gains […]
A capital asset has been defined under section 2(14) of the Income Tax Act. Any gain arising from the transfer of the capital asset is termed as capital gain it can be short term or long term. And when there is a loss on the transfer of a capital asset, the loss termed as a […]
SECTION 50C – SPECIAL PROVISION FOR FULL VALUE OF CONSIDERATION IN CERTAIN CASES Applicability of Section 50C As per Sec 50C, where the consideration received or accruing as a result of the transfer of land and/or building is less than the value adopted or assessed or assessable by an authority of the state govt. for […]
When does income be taxed as Capital gain or Business income? When the transaction involves transfer of capital asset then that will constitute capital gain, whereas transaction which is entered into normal course of business shall constitute business income. Some Practical Issues Issue – 1 Where agreement for construction of hostel building, agreement for lease […]
As per Finance Act, 2020, there is an amendment in Section 6 of the Income tax Act, 1961, for determining the residential status of an individual. An individual, who is citizen of India, is said to be Non Resident if he doesn’t satisfy any of the below conditions: He is in India for a period […]
COMPUTATION OF CAPITAL GAIN IN CERTAIN CASES 1. Section 51 – Advance Money Received 2. Section 50D- Fair Market Value deemed to be full value of consideration in certain cases 3. Section 50B – Special provision for computation of capital gains in case of Slump Sale Section 51 – Advance Money Received Many times we […]
SECTION 45(5) – COMPULSORY ACQUISITION Compulsory Acquisition by the Central Government is always be a concern for many people as how it should be tax. Hence today I am writing this article to cover various aspects of this section in question answer form. 1. Do consideration received from Government against compulsory acquisition attracts capital gain? […]
Capital gains is considered as one of the most crucial head of income. Since it is that crucial, everybody needs to be doubly sure at the time of computation of tax liability from capital gains. Many times, we observed that there is always a confusion regarding bifurcation of short term and long term capital asset […]
As of 1 April 2018, the long term capital gains (LTCG) on the sale of equity shares have been made taxable. In the case of equity, long-term refers to the holding period of more than a year from the date of purchasing. Simply put, long term capital gains are the profits that are earned on […]
Everyone in India invest in stock market. If people don’t invest then atleast they read about stock market. There are many full time investors and traders also in stock market. People earn, make losses have long term investments in market and many more. This blog comes with the intention of all the taxes applicable on […]
