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 : 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 : ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed cit...
Income Tax : Visakhapatnam ITAT allowed a Section 54F capital gains exemption, even though the assessee didn't deposit the sale proceeds in a 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...
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 Jaipur directs AO to quash Assessment Order under section 143(3) of Income Tax Act as notice to deceased assessee is deemed invalid. Detailed analysis and case precedents provided.
Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violation of section 269SS of the IT Act, if any, would call for a separate penalty under section 271D, not an addition under section 68.
Discover how the Madras High Court ruled on treating multiple flats as a single residential unit under Section 54F. Detailed analysis and implications explained.
Explore Arun K Thiagarajan Vs CIT, a case on Section 54 of the Income Tax Act, 1961. Detailed analysis, implications, and the court’s ruling explained.
In Sunil Amritlal Shah vs ITO, ITAT Mumbai ruled on Sec.54 deduction, stating possession date as relevant for under-construction property. Read the full analysis.
ITAT Bangalore allows Section 54F deduction for all apartment units from JDA, dismissing Revenue’s appeal. Learn about the significant tax ruling.
Understand the key differences between Section 54 and Section 54F for LTCG exemption through investment in residential property. Eligibility, time frame, investment amounts, and more are detailed.
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.
In the case of Gopalkrishna Pandu Shetty Vs ACIT (ITAT Mumbai), deduction under Section 54 of the Income Tax Act is allowed for a property purchased in the wife’s name. Detailed analysis and conclusion provided.
Kerala High Court ruling emphasizes time limits in Income Tax Act assessments on remand. Detailed analysis of Joseph Michael vs. DCIT case and its implications.
