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 : Understand how to combine proceeds from multiple sales under Section 54F of the Income Tax Act, 1961, to claim tax exemption on lo...
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 : Bombay High Court held that exercising extraordinary jurisdiction under Article 226 of the Constitution of India not justified as ...
Income Tax : ITAT Lucknow upholds denial of Section 54 exemption as investment in new property was made after the due date. Cites judicial prec...
Income Tax : Bangalore ITAT rejects DVO valuation, upholds equal treatment for co-owners in capital gains case, citing Supreme Court precedent....
Income Tax : ITAT Delhi's ruling in Mahavir Prasad Gupta vs. JCIT (AY 1997-98) addresses Section 54F exemption, long-term capital gains, and in...
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...
ITAT Delhi while quashing the revisionary order passed by the Ld. Pr.CIT held that, mere non-deposit in the capital gains scheme account cannot be the basis to deny deduction u/s 54/54F when the LTCG amount had duly been reinvested within the time allowed under 54(1) and that a hyper-technical/perfectionists point of view cannot the basis to assume revisionary jurisdiction.
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.
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.
Read about how the ITAT Pune invalidated an income tax assessment order due to the absence of a Document Identification Number (DIN) and analyzed the case’s key aspects.
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 capital gains tax exemptions under Income-tax Act sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, and 54GB. Learn rules, eligibility, and conditions.
ITAT Hyderabad held that claim of deduction under section 54F of the Income Tax Act not available as the flats sold are not hold for a minimum period of 3 years.
In the case of Shekhar Bharti vs. ITO (ITAT Delhi), the article explores how the valuation report was discredited, affecting the tax assessment.
In the Subba Raju Chekuri Vs. ITO case, ITAT Hyderabad remands matter due to the failure of the assessee to provide evidence for Section 54F deduction claim.
