Income Tax : 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...
Income Tax : The 2024 budget introduces changes in capital gains tax for immovable property, removing indexation and offering two tax options f...
Income Tax : Section 50C: For property sales, if the sale price is lower than the value assessed by Stamp Valuation Authority, that value is co...
Income Tax : Explore the significant changes in capital gains taxation proposed in Budget 2024, including revised tax rates, holding periods, a...
Income Tax : Article discusses Meaning of Cost Inflation Index (CII) which is used for Computation of Long Term Capital Gain. Cost Inflation in...
Income Tax : Calculate Long term capital gain on sale of capital Assets other then shares with the help of Indexation.- We have given below the...
Income Tax : ITAT Ahmedabad held that once the unaccounted receipts from the sale of properties are subjected to taxation as part of the capita...
Income Tax : Karnataka High Court ruled on V.S. Chandrashekar vs. ACIT regarding tax treatment of land transactions, applicability of Section 5...
Income Tax : ITAT Cuttack held that revisionary proceedings under section 263 of the Income Tax Act is liable to be quashed since assessee is e...
Income Tax : ITAT Jodhpur held that addition of income and capital gain tax levied thereon is liable to be set aside as land not situated withi...
Corporate Law : NCLAT Chennai held that after finalization of process of e-auction sale of Corporate Debtor, it cannot be permitted to consider Sc...
Corporate Law : Explore the new Competition Commission of India (CCI) Lesser Penalty Regulations 2024. Learn about conditions, procedures, and ben...
Custom Duty : Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and the...
Mohanlal N. Shah HUF v ACIT – The option to or not to avail the benefit of indexation for the computation of capital gains on the transfer of each of the long term capital asset is with the assessee as provided in section 48; it is only after computing the capital gains as per section 48, can it be aggregated by setting off the loss under section 70 and it is then that the rate of tax as provided under section 112 is applied.
