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Section 54G

Latest Articles


Various Threshold Limits under Income Tax Act

Income Tax : In Respect of exemptions, deduction etc Income Tax Act, 1961 imposes various threshold limit. Like in respect of Tax Rates or in r...

September 6, 2024 363764 Views 44 comments Print

Tax Treatment of Income from Salary in Brief

Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...

September 5, 2024 334049 Views 42 comments Print

Taxation of Capital Gain in India – FAQs

Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...

August 27, 2024 482179 Views 165 comments Print

FAQs on Exemption available from Capital gains under Income Tax Act, 1961

Income Tax : Discover the various capital gains tax exemptions under Sections 54, 54B, 54D, and 54EC, including eligibility, investment limits,...

August 23, 2024 1401 Views 0 comment Print

Key changes and precautions taken in filing income Tax Return

Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...

July 2, 2024 2049 Views 2 comments Print


Latest News


Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date

Income Tax : Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha I...

January 20, 2023 10965 Views 0 comment Print

Representation to FM on Concerns of Chartered Accountants

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...

January 30, 2021 2871 Views 0 comment Print

Request to extend time limits under section 54 to 54GB

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,...

January 10, 2021 15504 Views 0 comment Print


Latest Judiciary


Investment by firm allowable as deduction u/s. 54G to partner as per his partnership share: ITAT Rajkot

Income Tax : ITAT Rajkot held that each partner is owner of the assets to the extent of his share in the partnership, hence, exemption u/s 54G ...

August 23, 2024 402 Views 0 comment Print

No Capital Gain Tax on Shares Transferred as Gift: Bombay HC

Income Tax : Bombay High Court ruling states that capital gain tax is not applicable on the transfer of shares as a gift. Detailed analysis and...

May 10, 2024 18522 Views 0 comment Print

Invocation of section 50C in mere transfer of right in property without transfer of title is unjustified

Income Tax : ITAT Delhi held that provisions of section 50C of the Income Tax Act applies only in case of transfer of land or immovable propert...

June 19, 2023 5847 Views 0 comment Print

Section 54G exemption on Capital gain on sale of godown situated in an urban area and relocated to non-urban area

Income Tax : Where capital gain arising from transfer of capital asset, being machinery or plant or land or building used for the purposes of b...

July 9, 2019 2535 Views 0 comment Print


Latest Notifications


Extension of time limit for compliance under section 54 to 54GB

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...

January 6, 2023 20070 Views 1 comment Print


Latest Posts in Section 54G

Various Threshold Limits under Income Tax Act

September 6, 2024 363764 Views 44 comments Print

In Respect of exemptions, deduction etc Income Tax Act, 1961 imposes various threshold limit. Like in respect of Tax Rates or in respect of deduction under section 80C, 80D, 80U etc. Some of the Popular Limits are Tax Rates, Conveyance Allowance, HRA, Home Loan Interest, Deduction Under Section 80C, Leave Encashment, Gratuity, Medical Reimbursement etc. […]

Tax Treatment of Income from Salary in Brief

September 5, 2024 334049 Views 42 comments Print

Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. Income-tax Act provides for five heads of incomes for computation of taxable income, viz., Salary, Income from House Property, Income from Business or Profession, Capital Gain and Residual Income. Provisions contained under each head of […]

Taxation of Capital Gain in India – FAQs

August 27, 2024 482179 Views 165 comments Print

Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and long-term capital gains in India.

Investment by firm allowable as deduction u/s. 54G to partner as per his partnership share: ITAT Rajkot

August 23, 2024 402 Views 0 comment Print

ITAT Rajkot held that each partner is owner of the assets to the extent of his share in the partnership, hence, exemption u/s 54G of the Act, should not be denied to the assessee under consideration.

FAQs on Exemption available from Capital gains under Income Tax Act, 1961

August 23, 2024 1401 Views 0 comment Print

Discover the various capital gains tax exemptions under Sections 54, 54B, 54D, and 54EC, including eligibility, investment limits, and claim conditions.

Key changes and precautions taken in filing income Tax Return

July 2, 2024 2049 Views 2 comments Print

Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accurate reporting.

No Capital Gain Tax on Shares Transferred as Gift: Bombay HC

May 10, 2024 18522 Views 0 comment Print

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.

Exemption under capital Gain: Section 54, 54B, 54D, 54EC, 54F, 54G & 54GA

April 3, 2024 23658 Views 3 comments Print

Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-in periods analyzed.

Exemptions from Capital Gains: A Comprehensive Guide

October 27, 2023 22482 Views 2 comments Print

Explore capital gains tax exemptions under Income-tax Act sections 54, 54B, 54D, 54EC, 54EE, 54F, 54G, 54GA, and 54GB. Learn rules, eligibility, and conditions.

Invocation of section 50C in mere transfer of right in property without transfer of title is unjustified

June 19, 2023 5847 Views 0 comment Print

ITAT Delhi held that provisions of section 50C of the Income Tax Act applies only in case of transfer of land or immovable property. Invocation of deeming provision of section 50C in case of mere transfer of right in property accrued under agreement without transfer of title is unjustifiable.

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