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...
ITAT Mumbai held that that the joint ownership of the property would not stand in the way of claiming exemption under Section 54F of the Income Tax Act.
ITAT Jaipur reinforces section 54F’s applicability, highlighting the distinction between actual sale consideration and stamp duty value for capital gains exemption, affirming the principle of real consideration over deemed value for investment in new assets.
Explore the possibility of claiming deductions under Sections 54 and 54F of the Income Tax Act simultaneously for a single residential house property. Learn about the recent case law involving M/s. Sudhakar Traders, which sheds light on the importance of Proper Officer’s authorization in issuing notices under Section 61 read with Rule 99 of the CGST Act. Stay informed about the conditions and implications of claiming these exemptions concurrently.
ITAT Lucknow held that benefit of exemption cannot be disallowed merely because the same was claimed u/s 54F of the Income Tax Act instead of claiming u/s 54 of the Income Tax Act. Such mistake is inadvertent and typographical mistake.
ITAT Chandigarh held that exemption under section 54B of the Income Tax Act is not available when property was not purchased in the name of the assessee.
Delve into the Sharada Mohan Shetty Vs ITO case, analyzing the intricacies of Sec. 54F exemption claim, construction delays, and legal implications.
ITAT Delhi – Mere non-construction of property cannot be a ground to deny benefit u/s 54F. The beneficial nature and the object of the provision is ought to be considered by the Income Tax Authorities
Learn how to save capital gains tax on the sale of equity shares in India under Section 54F of the Income Tax Act. Discover eligibility criteria, investment requirements, and the calculation of tax exemptions. Get expert insights for effective tax planning.
In this article, let us focus on specific issues involved in Capital Gain tax exemption on the sale of inherited property. An attempt has been made to simplify the relevant provisions & legal decisions with the help of Illustrations.
Explore Capital Gain Tax Exemption rules on property transactions with illustrative examples, legal decisions, and statutory provisions. Understand the nuances of claiming exemptions under sections 54 and 54F of the Income Tax Act based on the date of purchase, possession, or construction. Get insights into specific legal decisions and learn about the factors affecting eligibility for exemptions.
