Goods and Services Tax : Discover the significant GST budget amendments for 2024, including changes in levy provisions, demand recovery, ITC availment, and...
Income Tax : Learn about capital gains exemption on the sale of residential houses under Section 54 of the Income Tax Act, including conditions...
Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...
Income Tax : Discover how Section 54 & 54F exemptions extend beyond property owners to include spouses and legal heirs. Explore recent ITAT rul...
Income Tax : Understanding the tax implications of society redevelopment under the Indian Income Tax Act, covering aspects like capital gains, ...
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 Bangalore held that imposition of penalty under section 271D of the Income Tax Act unwarranted as reasonable cause shown for ...
Income Tax : ITAT Mumbai states holding period for capital gains should be computed from the allotment letter date, not the sale agreement regi...
Income Tax : Tribunal ruled that the relevant date for acquisition should be when the possession is handed over, not merely the agreement date....
Income Tax : ITAT held that agreement to sell coupled with possession constituted a valid transfer for the purposes of claiming deduction under...
Income Tax : ITAT Kolkata held that loss on sale of shares on recognized stock exchange with STT paid, is eligible to be set off against the lo...
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...
Madras High Court held that refund cannot be denied as refund application under section 54(1) of CGST Act was made within a period of limitation, however, supportive documents were submitted at the time of personal hearing. Notably, the time limit fixed u/s. 54 (1) is directory in nature and it is not mandatory.
Explore tax-saving strategies while purchasing your first home. Learn how sections 54 and 54F of the Income Tax Act can optimize your capital gains. Consult with experts for personalized advice.
Explore the intricacies of Section 54F for capital gains deduction. Learn the conditions, time limits, and nuances to optimize your tax benefits on property sales.
Gujarat High Court held that initiation of penalty proceedings u/s 271(1)(c) of the Income Tax Act in the absence of any material to establish the concealing of income or furnishing inaccurate particulars unsustainable-in-law.
ITAT Mumbai denies capital gain exemption ( Section 54/54F) to Hem Chandra R. Gavankar for investing in a house in his wife and daughter’s name.
Learn about the ITAT Delhi ruling in Amrik Sokhi vs. ITO for A.Y. 2015-16, where the claim of capital gain deduction u/s 54 is restored for verification. Details here.
Explore Section 54 Exemption’s basics, amounts, and consequences in capital gains, with detailed computations and insights on tax-saving strategies.
Delhi High Court concluded that Appellate Authority failed to consider the contention of the petitioner that there was no supply of service via-a-vis refund of GST. Accordingly, matter remanded to Appellate Authority.
Delhi High Court held that refund of Integrated Goods and Services Tax (IGST) in respect of telecommunication services rendered to inbound subscribers of Foreign Telecom Operators (FTOs) granted.
Explore capital gains tax exemptions under Income-tax Act sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, and 54GB. Learn rules, eligibility, and conditions.
