#section 56
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811 articlesIncome Tax

Income Tax
Angel Tax Exemption: A Game-Changer for Startups in India
Income Tax

Income Tax
CBDT proposes changes to Rule 11UA ANGEL TAX & to notify Excluded Entities
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Income Tax
Forfeited share capital is Capital Receipt & not taxable under section 56(2)(ix)
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Income Tax Implications for Buyers, if any Immovable Property is Bought for a consideration less than Stamp Duty Value
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No capital Gain Tax on Gift of Immovable Property to Sister
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Section 56(2)(viia) cannot be invoked if Sales Price exceeds FMV
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Cash gift at the time of marriage supported merely by affidavit – ITAT confirms addition partially
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Addition u/s 56(2)(viib) sustained as method for FMV of equity shares not as per rule 11UA
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Order set aside as was based on lone basis that case is not covered under instruction no. 1914 dated 02.12.1993
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Income Tax
Income from Other Sources (Section 56 to 59)
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Interest u/s 28 of Land Acquisition Act from date of possession of land till date of judgement is not taxable
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Favoured Gift Provisions – Boon or Bane?
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Date of allotment letter for stamp duty valuation should be considered for section 56(2)(x)
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Income Tax
