Income Tax : ITAT held that execution of a registered joint development agreement amounts to transfer of land. Capital gains timing must be det...
Income Tax : Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdraw...
Income Tax : This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the In...
Income Tax : Sections 54 to 54GA allow capital gains exemptions if sale proceeds are reinvested in specific assets. These cover residential pro...
Income Tax : Overview of exemptions and allowances for salaried employees, taxpayers, and businesses under various Income Tax provisions for AY...
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 : The case addresses whether third-party cultivation affects Section 54B eligibility. The Tribunal ruled that use of land for agricu...
Income Tax : The ITAT relied on surrounding circumstances, documentary evidence, and the principle of human probabilities to conclude that cash...
Income Tax : ITAT Delhi held that exemption under section 54B of the Income Tax Act allowed since assessee is able to prove the nature of land ...
Income Tax : The Tribunal deleted addition under Section 69C, holding that payments made by company on behalf of director were properly explain...
Income Tax : ITAT Delhi held that Section 2(22)(e) cannot apply where the assessee held less than 10% shareholding in the lending company. As s...
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...
The Tribunal held that investment in agricultural land in a spouse’s name qualifies for deduction under Section 54B, following Rajasthan High Court precedent.
Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdrawal of exemptions.
ITAT upheld reopening of assessment but allowed Section 54 exemption, ruling that construction delay due to YEIDA’s possession issues was beyond assessee’s control and thus eligible for relief.
ITAT Chennai held that when sales are accepted and supported by records, entire purchases cannot be treated as bogus merely because suppliers were untraceable. Addition restricted to 12.5% as profit element.
ITAT Indore held that land located beyond 8 km from nearest municipality does not qualify as a capital asset under Section 2(14)(iii), exempting gains from capital gains tax.
This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the Income Tax Act, 1961, relevant for the Assessment Year (AY) 2026-27 (Financial Year 2025-26). These figures define taxability, exemption levels, eligibility for schemes, and compliance obligations for various categories of taxpayers, including individuals, corporations, and businesses.
Sections 54 to 54GA allow capital gains exemptions if sale proceeds are reinvested in specific assets. These cover residential property (Sec 54/54F), agricultural land (Sec 54B), compulsory acquisition (Sec 54D), and notified bonds (Sec 54EC/54EE). Reinvestment time limits and withdrawal rules apply.
Overview of exemptions and allowances for salaried employees, taxpayers, and businesses under various Income Tax provisions for AY 2026-27, including salaries, house property, business, capital gains, and other sources.
This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, and exemptions available to salaried taxpayers.
Analysis of Capital Gains Exemptions (Sec 54, 54B, 54EC, 54F, etc.) for individuals and businesses, covering reinvestment in property, agricultural land, specified bonds, and industrial relocation, including judicial view on compliance requirements.
