Income Tax : Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to inv...
Income Tax : Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions...
Income Tax : Discover how Section 54 & 54F exemptions extend beyond property owners to include spouses and legal heirs. Explore recent ITAT rul...
Income Tax : Understand the key differences between Section 54 and Section 54F for LTCG exemption through investment in residential property. E...
Income Tax : Discover eligibility, conditions, exemptions, and examples under Section 54 for capital gains on the transfer of residential house...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 : Explore the detailed ITAT Mumbai order analysis of Yogesh P. Thakkar vs DCIT, focusing on disputed long-term capital gains and com...
Income Tax : MP High Court dismisses the Income Tax Dept's appeal against Gopal Tayal, upholding ITAT's decision on alleged bogus penny stock L...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analy...
Income Tax : Detailed analysis of ITAT Chennai order on Shri Srikanth appeal against the disallowance of Section 54 deductions in the computati...
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...
In ACIT Vs Sanjay Kumath case, ITAT Indore ruled on Section 54F deduction eligibility based on period of holding of a flat from date of allotment letter. Learn about detailed analysis and conclusion of this case.
In Sanjeev Lal vs CIT case, the Supreme Court of India ruled on capital gains and Section 54 exemption. Learn about judgment and its implications
Learn how to save taxes on sale of properties other than residential houses using Section 54F of Income-tax Act, 1961. Detailed guide and practical examples provided.
Learn about date of acquiring a new property and its impact on capital gain tax exemption under Section 54 of Income Tax Act. Explore legal cases and guidelines.
ITAT Delhi held that once long term capital gain along with cost of acquisition and indexation accepted in the hands of one of the co-owner of the property, the same needs to be allowed/ accepted for other co-owner of the property too.
ITAT Mumbai decides on the applicability of penalties under Section 271(1)(c) after disclosing concealed income under the IDS scheme.
Learn how to save income tax on sale of a residential house in India under Section 54 of Income-tax Act, 1961. Complete guide and practical scenarios.
Explore the case Fab Engineering Pvt. Ltd. vs ITO, where ITAT Ahmedabad upheld disallowance on long-term capital loss claim from sale of company shares.
Computation of capital gain depends upon the nature of the capital asset transferred during the previous year, vis-à-vis, short-term capital asset, long-term capital asset or depreciable asset. Capital gain arising on transfer of short-term capital asset or depreciable asset is considered as short-term capital gain, whereas transfer of long-term capital asset gives rise to long-term capital gain.
In this article, we will discuss about the Income Tax provisions relating to both Short-term capital gain (STCG) and Long-term capital gain (LTCG) arising from sale/transfer of securities.
