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...
Introduction: The financial year 2023-24, corresponding to the assessment year 2024-25, introduces significant amendments that impact taxability, exemptions, and deductions. These changes are pivotal for taxpayers aiming to navigate the altered fiscal landscape effectively. Understanding these amendments is crucial for optimizing tax planning and compliance. Applicable Sec Particulars Taxability Sec 50AA Taxability of Debt Fund […]
Explore the case of Ramprasad Nigam vs ITO under Section 271(1)(c) for disallowed exemption claim under Section 54. The penalty is quashed based on accurate disclosure.
Explore ACIT Vs Iqbal Ali Khan case at ITAT Hyderabad, challenging disallowance of Section 54F claim on a property used for religious purposes. Detailed analysis and outcome.
Central issue revolved around assessee’s claim for deduction under Section 54F for investing sale proceeds of shares in a residential flat purchased in the name of his minor daughter.
ITAT Delhi rules in favor of taxpayer Simran Bagga, allowing deduction under section 54 for property registered in spouse’s name. Full text and analysis here.
Read ITAT Delhi’s order on Rajiv Ghai vs. ACIT case. Deduction under section 54F allowed for house registered in parents’ name. Detailed analysis and conclusion.
In this article, we will delve into the taxability of such transactions, specifically focusing on the provisions outlined in Section 45(5A) of the Income Tax Act.
Explore the legal battle of Shadawal Enterprises vs CIT in ITAT Mumbai. Analysis of unexplained expenses, eviction, and conclusion. Learn about the crucial remand for a fair decision
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.
