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 ITAT granted complete relief, holding that the date of allotment of the new industrial plot, not the date of registration, is the relevant date of purchase for the Section 54G capital gains exemption. Furthermore, the court confirmed that the transfer of industrial property from Delhi (Urban) to Ghaziabad (Non-Urban) qualified for the full shifting exemption.
This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, and exemptions available to salaried taxpayers.
Delhi ITAT confirms that a private trust with identifiable beneficiaries is eligible for the capital gains exemption under Section 54F, similar to an individual.
ITAT Ahmedabad remands Rajeshri Malviya’s case. CIT(A) failed to consider additional evidence (Rule 46A) for S.54G exemption claim.
ITAT Pune held that deduction under section 54F of the Income Tax Act admissible even if assessee is shareholder in developing company and sale deed has been executed after a period of two years. Accordingly, appeal of revenue dismissed.
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.
Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accurate reporting.
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.
Explore exemptions under capital gain with sections 54, 54B, 54D, 54EC, 54F, 54G, and 54GA. Eligibility, assets, limits, and lock-in periods analyzed.
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.
