Income Tax : The New Tax Regime restricts Section 24(b) benefits, disallowing set-off of home loan interest against salary income. Taxpayers mu...
Income Tax : Summary of key tax rules for rental and house property income under the Income Tax Act, including sub-letting, deemed ownership, c...
Income Tax : Understand Benami property and transactions as per the PBPT Act. Learn what constitutes Benami, who the Benamidar and Beneficial O...
Income Tax : Tax deductions for interest paid on loans play a significant role in personal tax planning, offering relief by reducing taxable in...
Income Tax : Learn how to optimize home loan interest tax benefits for self-occupied and rented properties. Strategies include reducing capital...
Income Tax : While presenting interim Budget 2019-20 FM proposed to exempt the levy of income tax on notional rent on a second self-occupied ho...
Income Tax : The Tribunal held that capital gains must be computed using the final stamp value determined after litigation, not an earlier infl...
Income Tax : ITAT Bangalore held that at the relevant time co-founder of Flipkart stayed in India for 141 days and balance days in other countr...
Income Tax : The Tribunal upheld taxation of rental receipts as income from house property because the companys principal object was not proper...
Income Tax : The issue was whether stamp duty value as on registration could override actual consideration received earlier. The Tribunal held ...
Income Tax : The Tribunal ruled that repeated reopening cannot survive where statutory timelines are breached. A reassessment initiated beyond ...
Fema / RBI : 2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR stat...
ITAT Ahmedabad confirmed addition on account of bogus long term capital gains from transaction in penny stock observing that mere filing documentary evidences did not discharge onus cast on the assessee to prove genuineness of the transaction.
ITAT Mumbai held that composite rental income received by letting out school building with infrastructure and amenities is taxable under the head ‘Income from House Property’ and not under ‘Income from income from other sources’ in view of section 56(2)(ii) of the Income Tax Act.
Delhi High Court granted interim bail on petitioner satisfying the test of proviso to section 45(1) of the Prevention of Money Laundering Act, 2002 (PMLA) as petitioner is suffering from life-threatening diseases warranting immediate medical attention.
ITAT Mumbai held that addition towards bogus purchases unsustainable if the alleged bogus purchases show gross profit higher than the regular gross profit.
Until a few years ago, homebuyers knew only one way of buying a home — they saved and saved for years and when they had saved enough, they would invest in a home.
Article delve into the details of Section 80EE, its eligibility criteria, and how to claim the deduction while optimizing your income tax return.
Orissa High Court held that the date when the material was discovered is not relevant. What is relevant is the nature of evidence or material discovered during the inspection. It cannot be utilized for making assessment for other years unless their relevance to any other period is established.
Orissa High Court held that sale of packaged drinking water in the brand name KINLEY WATER falls within the expression water but not aerated or mineral water sold in bottles or sealed containers” hence classified under entry no. 39 of Schedule of Goods declared Exempted from levy of sales tax
Cost of acquisition or the cost of improvement shall not include the amount of interest claimed under section 24 or Chapter VIA.
Whether or not the assessee was entitled to a deduction for interest paid on a loan used to purchase a residential home since he had not taken possession of the property
