Income Tax : A consolidated guide to Income-tax Act threshold limits for AY 2026-27 covering exemptions, deductions, TDS, TCS, compliance and p...
Income Tax : Explore the latest exemptions, deductions and allowances available under the Income-tax Act for AY 2026-27. The guide covers salar...
Income Tax : The Income Tax Bill, 2025 renumbers Section 54F as Section 86 while retaining the existing conditions, computation, and exemption ...
Income Tax : Learn the exemptions available under Sections 54 to 54GB of the Income-tax Act, including eligible investments, timelines, exempti...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 : Karnataka High Court held that reopening a completed scrutiny assessment without fresh tangible material is impermissible as it am...
Income Tax : ITAT held that exemption under Sections 54/54F cannot be denied where sale proceeds are invested in a residential house within the...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : ITAT held that substantial construction and structural improvements satisfied Section 54F. AO was directed to allow the deduction....
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
CA, CS, CMA : The ICAI Disciplinary Committee reprimanded CA Jayant Ishwardas Mehta for professional misconduct involving an incorrect income t...
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...
Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act on mere change of opinion is not permissible in law. Accordingly, petition allowed and reassessment notice quashed.
ITAT remits Venkataraju Chandra Shekar’s case for reassessment after notices were sent to the wrong email, impacting appeal hearing. Fresh adjudication ordered.
ITAT Ahmedabad dismisses Revenue’s appeal, validates the sale price of unquoted shares in Bipin Babubhai Panchal’s LTCG case, rejecting fabrication claims.
The assessee is an individual, whose case for AY 2011-12 was reopened on the basis of AIR information available in the system of department, accordingly, a notice u/s 148 was issued on 30.03.2018 and served upon the assessee through RPAD.
ITAT Mumbai remands case on capital gain exemption for two adjoining flats under Section 54F, directing physical verification of flats by the Assessing Officer.
ITAT Pune held that exemption under section 54F of the Income Tax Act entirely allowed as entire amount re-invested by the assessee and name of the son taken only as a proforma purchaser.
ITAT Ahmedabad held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act justified as deduction was claimed u/s. 54EC and 54F of the Income Tax Act by furnishing inaccurate particulars.
Learn about capital gain exemptions under Sections 54, 54F, and 54EC of the Income-tax Act for property sales. Maximize tax benefits on LTCG with proper planning.
ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when return is filed belated return of income under section 139(4) of the Income Tax Act.
Assessee-partnership firm had filed its income tax return declaring income. The case was selected for limited scrutiny, focusing on the issues such as investment in immovable property and share capital/other capital.
