Income Tax : The new law treats gains from depreciable assets as short-term capital gains for all purposes, not merely for computation. This ef...
Income Tax : The case explains how salary income is computed on a gross basis with only specific deductions permitted. It clarifies the scope o...
Income Tax : The issue concerns when capital gains become taxable under the law. The framework clarifies that gains are taxed in the year of tr...
Income Tax : The Finance Act 2023 introduced a 12.5% LTCG tax without indexation as an alternative to 20% with indexation. Taxpayers must compa...
Income Tax : When a resident buys unlisted shares from a non-resident, TDS must be deducted on gross consideration under Section 195, subject t...
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Income Tax : Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introd...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 Ahmedabad held that delivery-based share transactions shown as investments in books could not be treated as business income w...
Income Tax : ITAT Delhi ruled that the holding period for capital gains purposes began from the date of full payment and transfer of possession...
Income Tax : The ITAT Ahmedabad held that reassessment under Section 147 was invalid because the Assessing Officer reopened the case for fictit...
Income Tax : The ITAT Surat held that abnormal price rise in a penny stock and surrounding circumstances justified treating claimed LTCG as une...
Income Tax : The ITAT Ahmedabad held that a demolished and uninhabitable structure could not be treated as a residential house for Section 54F ...
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...
Learn how the Finance Act 2023 changed debt mutual fund taxation by removing indexation benefits. Understand Section 50AA’s “deeming fiction” and its impact on capital gains, exemptions, and loss set-off.
ITAT Lucknow allowed exemption for Long Term Capital Gains on a share sale, ruling that tax authorities cannot rely on un-furnished investigation report to dismiss a taxpayer’s claim.
Learn about recent changes in long-term capital gains tax for individuals and HUFs selling land or buildings. The new rules, effective July 23, 2024, impact indexation benefits and tax computation.
New IT Bill 2025 raises effective tax on LLP long-term capital gains from 12.5% to 18.5%, expanding AMT scope regardless of deductions.
Learn about the new 12.5% capital gains tax rate on Land/Building (LBB) transfers from July 23, 2024, and the CBDT’s proviso protecting assessees from higher tax.
Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effective from Assessment Year 2026-27.
A key area of contention has been whether cost incurred for purchase of land or commencement of construction before date of transfer of original asset is eligible for section 54F exemption
ITAT Delhi rules against reassessment, citing vague reasons and lack of nexus between Kavya Satija and alleged entry operators.
Explore India’s 2024 Union Budget changes to LTCG tax on immovable property, including indexation removal, revised tax rates, and the grandfathering provision.
ITAT Kolkata ruled on taxing property received with an unregistered agreement in one FY and sale deed in another, clarifying Section 56(2)(x) applicability.
