Income Tax : Introduction: The financial year 2023-24, corresponding to the assessment year 2024-25, introduces significant amendments that imp...
Income Tax : This article aims to unravel the complexities surrounding the taxability of Bitcoin ETF gains, examining sections of the Indian In...
Income Tax : Tax implications of investing in specified mutual funds and market-linked debentures (MLDs) post-amendment under Section 50AA, wit...
Income Tax : Finance Act 2023 redefines capital gains Introduces amendments in Sec 54, 54F, and 45(5A), caps exemptions, and modifies MLD taxat...
Corporate Law : Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House if an assess...
Introduction: The financial year 2023-24, corresponding to the assessment year 2024-25, introduces significant amendments that impact taxability, exemptions, and deductions. These changes are pivotal for taxpayers aiming to navigate the altered fiscal landscape effectively. Understanding these amendments is crucial for optimizing tax planning and compliance. Applicable Sec Particulars Taxability Sec 50AA Taxability of Debt Fund […]
This article aims to unravel the complexities surrounding the taxability of Bitcoin ETF gains, examining sections of the Indian Income Tax Act and analyzing the potential impact of regulatory changes and Securities and Exchange Board of India (SEBI) approval.
Tax implications of investing in specified mutual funds and market-linked debentures (MLDs) post-amendment under Section 50AA, with examples.
Finance Act 2023 redefines capital gains Introduces amendments in Sec 54, 54F, and 45(5A), caps exemptions, and modifies MLD taxation. Embracing clarity and fairness in capital gain taxation.
Section 54- Deduction on the capital gains arising from transfer of long term capital asset i.e. Residential House if an assessee with in period of one year or two years after the date on which transfer took place purchased any residential property or with period of three years after that date constructed any residential property in India Irrespective of any threshold limit.
As per the new section 50AA, the full value of the consideration received or accruing from the transfer, redemption, or maturity of a Market Linked Debenture will be deemed to be the capital gains arising from the transfer of a short-term capital asset.
Newly section insert by finance Act 2023, 1) Insertion of new section 50AA: Special provision for computation of capital gains in case of Market Linked Debenture., 2) Insertion of new section 194BA: TDS on Winnings from online games , 3) Insertion of new section 80CCH: Deduction in respect of contribution to Agnipath Scheme As per […]
