Income Tax : Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdraw...
Income Tax : Comprehensive summary of capital gains—definition, classification, computation, exemptions, reinvestment reliefs, and procedures...
Income Tax : This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the In...
Income Tax : Sections 54 to 54GA allow capital gains exemptions if sale proceeds are reinvested in specific assets. These cover residential pro...
Income Tax : This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, an...
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 : The Tribunal ruled that actual use of the property during the year is not a pre-condition for including it in the block of assets....
Income Tax : The tax authorities denied Section 54 relief citing delay in completing construction. The Tribunal ruled that Section 54 is a bene...
Income Tax : The issue was whether receipt of shares on amalgamation attracts tax when shares are held as stock-in-trade. The Court held such s...
Income Tax : The Tribunal held that section 54 relief cannot be denied merely because the new property was purchased in the spouse’s name. It...
Income Tax : ITAT upheld reopening of assessment but allowed Section 54 exemption, ruling that construction delay due to YEIDA’s possession i...
Income Tax : The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhan...
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...
The Tribunal ruled that actual use of the property during the year is not a pre-condition for including it in the block of assets. Depreciation eligibility differs from eligibility for block inclusion under Section 50.
The tax authorities denied Section 54 relief citing delay in completing construction. The Tribunal ruled that Section 54 is a beneficial provision and does not mandate full completion within three years.
The issue was whether receipt of shares on amalgamation attracts tax when shares are held as stock-in-trade. The Court held such substitution can trigger business income under Section 28 if the shares are realisable, reinforcing the real income principle.
The Tribunal held that section 54 relief cannot be denied merely because the new property was purchased in the spouse’s name. It ruled that actual investment of capital gains is the key requirement.
The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhances taxpayer convenience and modernises compliance procedures.
Learn about capital gains tax exemptions under Sections 54 to 54GB of the Income Tax Act, conditions for eligibility, and withdrawal of exemptions.
ITAT upheld reopening of assessment but allowed Section 54 exemption, ruling that construction delay due to YEIDA’s possession issues was beyond assessee’s control and thus eligible for relief.
Comprehensive summary of capital gains—definition, classification, computation, exemptions, reinvestment reliefs, and procedures under Income Tax Law, including indexation and capital gain account rules.
This report provides a consolidated overview of the critical monetary threshold limits stipulated under various sections of the Income Tax Act, 1961, relevant for the Assessment Year (AY) 2026-27 (Financial Year 2025-26). These figures define taxability, exemption levels, eligibility for schemes, and compliance obligations for various categories of taxpayers, including individuals, corporations, and businesses.
Sections 54 to 54GA allow capital gains exemptions if sale proceeds are reinvested in specific assets. These cover residential property (Sec 54/54F), agricultural land (Sec 54B), compulsory acquisition (Sec 54D), and notified bonds (Sec 54EC/54EE). Reinvestment time limits and withdrawal rules apply.
