Income Tax : AY 2026-27 requires structured reporting of long-term and short-term gains from shares and mutual funds. Particular attention is n...
Income Tax : The guide explains Sections 54 to 54GB, showing how taxpayers can claim capital gains tax exemptions through reinvestment, subject...
Income Tax : A practical guide for salaried taxpayers to save capital gains tax through home reinvestment, 54EC bonds, tax-loss harvesting, and...
Income Tax : Capital gains from compulsory acquisition are generally taxed when compensation is received rather than when the land is acquired....
Income Tax : Buyback proceeds will again be taxed as capital gains from 1 April 2026. The change allows deduction of acquisition cost and resto...
Income Tax : India and France have signed a protocol granting full taxing rights on capital gains from share sales to the country of company re...
Income Tax : Govt rationalizes long-term capital gains tax, reducing rates to 12.5% and simplifying holding periods. Relief provided for pre-Ju...
Income Tax : Finance Bill 2024 amends Section 55 to include fair market value for unlisted shares in IPOs. Changes apply retroactively from Apr...
Income Tax : The Finance Bill 2024 proposes a streamlined and rationalized taxation system for capital gains, with changes including reduced ho...
Income Tax : From April 1, 2025, Section 47 will exclude transfers of capital assets under gifts or wills from capital gains tax, with specific...
Income Tax : TAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue failed to establish any connecti...
Income Tax : The Gujarat High Court upheld deletion of an addition relating to alleged bogus capital gains. The Court found that shares held fo...
Income Tax : Assessee was entitled to deduction under section 54F in respect of the entire value of all 50 residential flats receivable under t...
Income Tax : The ITAT held that reassessment proceedings were invalid because the recorded reasons for reopening were undated and failed to est...
Income Tax : ITAT held that execution and registration of a sale deed completes the transfer for capital gains purposes. Delayed receipt of sal...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
Income Tax : The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhan...
Income Tax : Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax...
Income Tax : Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effectiv...
Income Tax : The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), issued Notification No. 44/2024-Income-Tax on May 24, 2...
TAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue failed to establish any connection between the assessee and alleged price-rigging operators. The Tribunal found that the transactions were supported by demat records, banking documents, and stock exchange evidence. The LTCG exemption under Section 10(38) was restored.
The Gujarat High Court upheld deletion of an addition relating to alleged bogus capital gains. The Court found that shares held for over a decade as genuine investments could not be treated as penny stock transactions.
Assessee was entitled to deduction under section 54F in respect of the entire value of all 50 residential flats receivable under the Joint Development Agreement. Prior to the amendment effective from 01.04.2015, exemption under section 54F could not be restricted merely because the investment was made in multiple residential units.
AY 2026-27 requires structured reporting of long-term and short-term gains from shares and mutual funds. Particular attention is needed for shares acquired before January 31, 2018, where scrip-wise reporting remains mandatory.
The guide explains Sections 54 to 54GB, showing how taxpayers can claim capital gains tax exemptions through reinvestment, subject to eligibility, timelines, limits, and compliance conditions.
The ITAT held that reassessment proceedings were invalid because the recorded reasons for reopening were undated and failed to establish compliance with Section 148 requirements. The assessment was quashed as a jurisdictional defect.
ITAT held that execution and registration of a sale deed completes the transfer for capital gains purposes. Delayed receipt of sale consideration or dishonoured cheques cannot postpone taxability when the registered transfer remains valid.
The Madras High Court held that reimbursements made to a foreign subsidiary for online advertising expenses were not included within the statutory scope of equalisation levy. The refund rejection order was set aside for reconsideration.
A practical guide for salaried taxpayers to save capital gains tax through home reinvestment, 54EC bonds, tax-loss harvesting, and LTCG exemptions.
The Tribunal accepted the assessee’s contention that the property could not have been transferred without compensating the occupants. The related payments were therefore held deductible from the sale consideration for capital gains purposes.
