No reassessment u/s 148 merely on information without verification
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No reassessment u/s 148 merely on information without verification Short Conclusion : AO cannot reopen an assessment u/s 148 merely…
Capital Gain
Capital gain exemption shall be limited to actual sale consideration and not stamp duty value
Capital gain exemption shall be limited to actual sale consideration and not stamp duty value [2019] 104 taxmann.com 208 (Bombay) Computation of…
Even amount not received need investment for claiming capital gain exemption u/s 54EC; Bombay HC
Even amount not received need investment for claiming capital gain exemption u/s 54EC; Bombay HC IN THE HIGH COURT…
Benefit of Long Term Capital Gain exemption for Two house properties
With the passage of time, the requirements of the taxpayers also changes and as such there is always a need…
THE UNITS OF MUTUAL FUNDS AND INDEXED COST OF ACQUISITION
THE UNITS OF MUTUAL FUNDS AND INDEXED COST OF ACQUISITION CAPITAL GAINS SECTION 45(6), Whether benefit of indexation of cost…
Whether direct nexus between sale consideration of old property and investment in new property is needed for capital gain exemption?
Whether direct nexus between sale consideration of old property and investment in new property is needed for capital gain exemption?…
Purchasing house property by availing bank loan make capital gain exemption invalid?
Purchasing house property by availing bank loan make capital gain exemption invalid? Income Tax Appellate Tribunal – Mumbai Mrs. Prema…
Capital gain exemption available even if investment is done by availing housing loan
Capital gain exemption available even if investment is done by availing housing loan Assumptions & presumptions are the biggest barrier…
JDA – Income Tax Liability arises at the time of issue of completion certificate.
Joint Development Agreement: Income Tax Liability arises at the time of issue of completion certificate. Concept of Joint Development…
Long Term Gain Tax on shares is back- Time to know the Tax Implications
Long Term Gain Tax on shares is back- Time to know the Tax Implications “Total amount of exempted capital gain…
Capital Gain exemption available even if investment is done in the name of wife: HC
Benefit of exemption u/s 54F is not limited to investments made on claimants’ name only: HC JAIPUR,: THE issue is…
Section 45(5A) – New Simplified mode of Taxation of Joint Development Agreement
New sub-section (5A) is insert in section 45 by the Finance Act, 2017, w.e.f. 1-4-2018 to tax joint Development agreement.…
Tax Treatment of Interest received from Capital Gain Deposit Account Scheme !!
The tax treatment of interest of capital gain account scheme is cover by Rule 8 of the Capital Gain Deposit.…
How to close the Capital Gain Deposit Account under CGDAS?
There is a set procedure for closing the account opened under Capital Gain Deposit account scheme-1988. Rule 13 deals with…
54EE – FUND TO BE ESTABLISHED FOR “START UP INDIA ACTION PLAN” …
54EE – EXEMPTION OF LONG TERM CAPITAL GAINS ON INVESTMENT IN NOTIFIED UNITS OF SPECIFIED FUND (FUND TO BE ESTABLISHED…
Date of signing the joint Development agreement is not fully relevant for determining the Capital Gain Tax liability !!
CIT vs. Dr. Arvind S. Phake (Bombay High Court) Section 2(47)(v): Immovable property is regard to have been transferr on…
3 Years period permissible for under construction Flat for exemption u/s 54 & 54F
Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
Acquisition of new flat in an apartment under construction should be considered as a case of “Construction” and not “Purchase”
Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
