Capital GainHouse properyIncome TaxBenefit of Long Term Capital Gain exemption for Two house properties11 Feb 20190With the passage of time, the requirements of the taxpayers also changes and as such there is always a need…
Capital GainIncome TaxTHE UNITS OF MUTUAL FUNDS AND INDEXED COST OF ACQUISITION1 Dec 20180THE UNITS OF MUTUAL FUNDS AND INDEXED COST OF ACQUISITION CAPITAL GAINS SECTION 45(6), Whether benefit of indexation of cost…
Capital GainIncome TaxIT JudgementWhether direct nexus between sale consideration of old property and investment in new property is needed for capital gain exemption?26 Nov 20180Whether direct nexus between sale consideration of old property and investment in new property is needed for capital gain exemption?…
Capital GainIncome TaxIT JudgementPurchasing house property by availing bank loan make capital gain exemption invalid?26 Nov 20180Purchasing house property by availing bank loan make capital gain exemption invalid? Income Tax Appellate Tribunal – Mumbai Mrs. Prema…
ArticleCapital GainHouse properyIncome TaxCapital gain exemption available even if investment is done by availing housing loan26 Nov 20180Capital gain exemption available even if investment is done by availing housing loan Assumptions & presumptions are the biggest barrier…
Capital GainIncome TaxJDA – Income Tax Liability arises at the time of issue of completion certificate.29 May 20180Joint Development Agreement: Income Tax Liability arises at the time of issue of completion certificate. Concept of Joint Development…
ArticleCapital GainIncome TaxInteresting Income Taxother topicThe PlanningLong Term Gain Tax on shares is back- Time to know the Tax Implications5 Feb 20180Long Term Gain Tax on shares is back- Time to know the Tax Implications “Total amount of exempted capital gain…
ArticleCapital GainIncome TaxInteresting Income Taxother topicTax PlanningCapital Gain exemption available even if investment is done in the name of wife: HC27 Jan 20180Benefit of exemption u/s 54F is not limited to investments made on claimants’ name only: HC JAIPUR,: THE issue is…
ArticleCapital GainIncome TaxSection 45(5A) – New Simplified mode of Taxation of Joint Development Agreement7 Jan 20180New sub-section (5A) is insert in section 45 by the Finance Act, 2017, w.e.f. 1-4-2018 to tax joint Development agreement.…
ArticleCapital GainCircularIncome TaxLatest UpdateTax PlanningTax Treatment of Interest received from Capital Gain Deposit Account Scheme !!4 Jan 20180The tax treatment of interest of capital gain account scheme is cover by Rule 8 of the Capital Gain Deposit.…
ArticleCapital GainIncome TaxMiscellaneousother topicTax PlanningHow to close the Capital Gain Deposit Account under CGDAS?4 Jan 20180There is a set procedure for closing the account opened under Capital Gain Deposit account scheme-1988. Rule 13 deals with…
ArticleCapital Gain54EE – FUND TO BE ESTABLISHED FOR “START UP INDIA ACTION PLAN” …29 Dec 2017054EE – EXEMPTION OF LONG TERM CAPITAL GAINS ON INVESTMENT IN NOTIFIED UNITS OF SPECIFIED FUND (FUND TO BE ESTABLISHED…
ArticleAssessmentCapital GainTax PlanningDate of signing the joint Development agreement is not fully relevant for determining the Capital Gain Tax liability !!26 Dec 20170CIT vs. Dr. Arvind S. Phake (Bombay High Court) Section 2(47)(v): Immovable property is regard to have been transferr on…
ArticleCapital GainControversial issuesTax Planning3 Years period permissible for under construction Flat for exemption u/s 54 & 54F25 Dec 20170Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
ArticleCapital GainIncome TaxTax PlanningAcquisition of new flat in an apartment under construction should be considered as a case of “Construction” and not “Purchase”25 Dec 20170Mustansir I Tehsildar vs. ITO (ITAT Mumbai) CONCLUSIONS: Section 54:Acquisition of new flat in an apartment under construction should be…
ArticleCapital GainIncome TaxInteresting Income TaxIT JudgementBogus LTCG from Penny stocks25 Dec 20170Sanjay Bimalchand Jain vs. Pr CIT (Bombay High Court) GIST: Bogus LTCG from Penny stocks: The assessee has not tendered…
Capital GainTax PlanningEligible Start-up – 100% Tax Holiday for 3 years2 May 20160Tax Holiday for 3 years Query 1] Start up India action plan was launched by the PM few months back…
ArticleAssessmentCapital GainHouse properysalaryTax PlanningClaim deduction @ Rs. 5,000/- pm if living in a rented premises- Section 80GG18 Apr 20160Claim deduction @ Rs. 5,000/- pm if living in a rented premises- Section 80GG Query 1] I am not…