Income Tax : This article explores how taxpayers can save Long-Term Capital Gains (LTCG) arising from the sale of agricultural land. Relevant S...
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 : In Respect of exemptions, deduction etc Income Tax Act, 1961 imposes various threshold limit. Like in respect of Tax Rates or in r...
Income Tax : Income-tax Act contains provisions for taxability of various allowances received by a taxpayer. These allowances are either in the...
Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...
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 : ITAT Jaipur addressed tax deductions under Sections 54F & 54B in Kuldeep Singh Shekhawat vs. ITO, ruling on belated filings and ca...
Income Tax : ITAT Raipur held that exemption under section 54B of the Income Tax Act is allowable since pre-condition regarding usage of land f...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT Bangalore sets aside CIT(A) order in Section 54 exemption case due to lack of documents. The case is remanded for fresh revie...
Income Tax : PCIT observed that no agricultural activity was carried out from the year 2014 till 2018 in both the lands i.e. the agricultural l...
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...
Detailed analysis of the ACIT vs Himanshu Garg case at ITAT Delhi regarding capital gains, section 54F exemption, and land sale considerations.
ITAT Jaipur directs AO to quash Assessment Order under section 143(3) of Income Tax Act as notice to deceased assessee is deemed invalid. Detailed analysis and case precedents provided.
Bombay High Court ruling states that capital gain tax is not applicable on the transfer of shares as a gift. Detailed analysis and judgment explanation provided.
Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-in periods analyzed.
ITAT Ahmedabad held that amount received as confirming party on sale of right is considered as receipts on sale of capital asset and accordingly, income is held as income from long term capital gain.
Learn from the Bombay High Court’s judgment why actual agricultural activity isn’t crucial in determining land as agricultural, impacting tax liabilities.
Sold agricultural land? Re-invest the proceeds in new land within 2 years to claim tax exemption under Section 54B. Even if the new land is registered in your son’s name, you may still qualify. Learn the details and avoid common mistakes with this informative guide.
ITAT Ahmedabad dismisses appeal against revision order denying 80GGC deduction for donation to a political party, emphasizing the need for genuine receipts.
ITAT Delhi rules in favor of taxpayer Simran Bagga, allowing deduction under section 54 for property registered in spouse’s name. Full text and analysis here.
Explore the Ravinder Kumar vs ITO case at ITAT Delhi. Learn how the tribunal allowed capital gain deduction under section 54B for agricultural land purchased in the name of the spouse.
