Income Tax : Learn key tax rulings on Section 54/54F exemptions for property sales, including land size, appurtenant land, property use, and ag...
Finance : Understand real estate tax changes post-Budget 2024, including LTCG tax reduction, removal of indexation benefits, and rollover pr...
Income Tax : Learn how recent amendments to Section 112 of the Income Tax Act impact capital gains tax, including indexation rollback and new t...
Income Tax : 1. Further to the article Capital Gain Tax Exemption on Residential Property: Land Mark Judgment PART A, This article delves into ...
Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...
Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...
CA, CS, CMA, Income Tax : We have not noticed any heed being extended towards various issues and possible solutions we have proposed through those represent...
Income Tax : KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act,...
Income Tax : All India Federation of Tax Practitioners (CZ) has requested CBDT that due date of filing return of income u/s 139(1) for all the ...
Income Tax : Direct Taxes Committee of ICAI has Request(s) for extension of various due dates under Income-tax Act, 1961 especially Tax Audit R...
Income Tax : ITAT Indore deleted Rs. 70.13 lakh investment addition, ruling source of funds sufficiently explained, overturning part of CIT(A) ...
Goods and Services Tax : The petitioner raised bills on respondent No.4 based on the works executed from time to time, TDS @ 2% on the total value of the b...
Goods and Services Tax : In W.P.No.6541 of 2022, the petitioner has challenged the Circular No.125/44/2019 dated 18.11.2019 issued by the third respondent ...
Income Tax : ITAT Mumbai dismisses ITO's appeal against Pamela Pritam Ghosh, upholding Section 54 exemption for property purchase in Australia ...
Goods and Services Tax : Andhra Pradesh High Court held that notification no. 9 of 2022, Central Tax (Rate) is effective only from 18.07.2022 and hence ref...
Income Tax : For claiming exemption Section 54 to 54 GB of the Act, for which last date falls between 01st April. 2021 to 28th February, 2022 m...
Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last...
Income Tax : Notification No. 44/2012-Income Tax In exercise of the powers conferred by sub-section (2) of section 54, sub-section (2) of secti...
Any Income derived from a Capital asset movable or immovable is taxable under the head Capital Gains under Income Tax Act 1961. The Capital Gains have been divided in two parts under Income Tax Act 1961. One is short term capital gain and other is long term capital gain.
The issue under consideration is whether the advance to the seller of flat prior to the date of sale of old capital asset will be eligible for claiming deduction u/s 54 under capital gains?
The issue under consideration is whether the Section 50C need to be complied at the time of computation of exemption u/s 54 or 54F?
Learn about the adequacy of the allotment letter for claiming exemption under section 54F of the Income Tax Act, 1961. Understand the conditions and requirements for tax relief on capital gains.
The issue under consideration is whether agreement for construction of house interpreted as agreement for purchase for availing benefits of deduction u/s 54F if construction completed within three years?
Buying a house is a dream for each one of us. There are various tax incentives offered by government towards stimulating individuals to buy house property under ‘Housing for All’ Mission. However it is of vital importance to keep an eye on calendar to time it well when we want to sell house property since […]
Many taxpayers are not aware the provision of the income tax act on how to save the tax on the sale of residential property. They earn profits on the sale of residential property and pay the taxes. They can save the tax. I have brief the methods from which the taxpayers can save the tax. […]
The government wants you to own a house and the same becomes evident from the various tax benefits allowed under the income tax laws to the persons who own a house. Let us understand the various beneficial tax provisions which prove that the government wants you to own a house.
This article aims to highlight the meaning of ‘Cost of new residential house’ in the context of deduction under section 54 of Income Tax Act. To resolve the controversy of claiming deduction under section 54/54F of the Act, ‘cost of new residential property includes cost of land’.
The issue under consideration is whether the tribunal can give fresh opportunity to the assessee to submit evidence which assessee might not have been able to provide at the time of hearing?
