Income Tax : Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-...
Income Tax : Explore the changes in taxation of debt mutual funds pre and post April 2023. Learn about impacts, benefits, and strategies. Inves...
Income Tax : Explore the special tax regime for NRIs under the Income Tax Act, 1961, offering benefits on investments and capital gains in conv...
CA, CS, CMA : Discover the motives behind the removal of Income Tax Act's Section 10(38) in Union Budget 2018. Uncover tax evasion tactics, loop...
Income Tax : ITAT Delhi Bench ruling on eligibility for income tax deduction under Section 54. Learn why a house purchased in the spouse's name...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 : In order to curb the practice of declaring unaccounted income as exempt long term capital gain by entering into sham transactions,...
Corporate Law : Relaxations for companies, including start-ups have been provided through changes in various rules notified under Companies Act, 2...
Income Tax : Delhi ITAT ruled that to claim capital gains benefit under Sec 54, taxpayers must acquire a residential house within three years f...
Income Tax : ITAT Delhi held that the reopening of assessment had been initiated by mere surmise and conjecture without having any cogent mater...
Income Tax : Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of dep...
Income Tax : Chirag Tejprakash Dangi successfully challenged the Income Tax Office's (ITO) addition of Rs. 1.51 crore related to sale of allege...
Income Tax : Read about the ITAT Ahmedabad ruling in Bharatkumar Gangaram Patel vs. ITO case, where the addition for unexplained LTCG on shares...
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...
Income Tax : Notification No. 60/2015 - Income Tax S.O. (E) – In exercise of the powers conferred by clause(v) of the Explanation to secti...
ASSETS RECEIVED UNDER GIFT – Where A acquired agricultural lands in 1961, and after converting them into non-agricultural use in 1962 gifted the lands to B in 1966, and later B sold them, the cost of acquisition under section 49(1)(ii) would be the amount originally paid by A, and not the value on the date of conversion or on the date of gift
