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 : Comprehensive summary of capital gains—definition, classification, computation, exemptions, reinvestment reliefs, and procedures...
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 : 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 : The issue was whether receipt of shares on amalgamation attracts tax when shares are held as stock-in-trade. The Court held such s...
Income Tax : The ITAT ruled that property sold by a discontinued partnership must be taxed in the firm’s hands, not its former partners, emph...
Income Tax : The Tribunal held that section 54 relief cannot be denied merely because the new property was purchased in the spouse’s name. It...
Income Tax : ITAT upheld reopening of assessment but allowed Section 54 exemption, ruling that construction delay due to YEIDA’s possession i...
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...
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.
Accordingly, the Petitioner preferred an application u/s. 119(2)(b) of the Income Tax Act, 1961 on 23.03.2020, seeking condonation of delay in filing the return of income for Assessment Year 2017–18, with a view to claiming refund of the TDS amount.
ITAT Bangalore sets aside CIT(A) order in Section 54 exemption case due to lack of documents. The case is remanded for fresh review.
Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accurate reporting.
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.
The income tax department developed the idea of capital gain exemptions to address this problem. If we receive money from the sale of capital assets, we have the choice to deposit it in our CGAS account before filing our income tax return or before the return’s due date, which is typically July 31st.
ITAT Mumbai has directed AO to obtain the complete information and examine whether assessee has only leasehold right or complete rights over the property so that provisions of section 50C of the Income Tax Act are attracted.
ITAT Jaipur held that non-compliance inspite of repeated notices/ summons has led to gross negligence on the part of the assessee and accordingly matter restored back and cost of Rs. 2,000/- imposed for negligent attitude during income tax proceedings.
