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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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...
Learn how recent amendments to Section 112 of the Income Tax Act impact capital gains tax, including indexation rollback and new tax calculation options.
Explore how changes in the Finance Act impact tax on long-term and short-term capital gains through revised indexation rates. Insights for investors and tax planning.
1. Further to the article Capital Gain Tax Exemption on Residential Property: Land Mark Judgment PART A, This article delves into landmark judgments clarifying capital gains tax exemptions and related provisions under the Income Tax Act, 1961. Key rulings include the Mumbai Tribunal’s decision in Abdul Nayab Sheik v. ITO (2024), where it was held […]
ITAT Ahmedabad rules that cost of improvement to make a house livable qualifies for capital gains deduction. Penalty on disallowed expenses also canceled.
Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITAT and High Court cases explained.
Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-July 2024 property gains.
Learn about capital gain exemptions for investing in multiple residential units under Section 54F, with case law insights on eligibility and conditions.
“ITAT Jodhpur rules Bitcoin gains as long-term capital gains (LTCG) and allows Section 54F deduction for AY 2021-22. Read the detailed judgment highlights.”
Summary: As per the Finance Act 2024, the long-term capital gains (LTCG) tax on listed securities has been raised from 10% to 12.5% for transactions carried out from the assessment year 2024-25. This change applies to securities like listed shares and equity-oriented mutual funds. For the assessment year 2024-25, the exemption limit for LTCG on […]
Analysis of ITAT Kolkata’s ruling in Usha Devi Modi vs ITO on Section 263 of the Income Tax Act, addressing capital gains on penny stocks and revisionary jurisdiction.
