Actual sale consideration, not stamp duty valuation, is important for claiming capital gain exemption u/s 54F
INCOME TAX OFFICER vs. SHRI RAJ KUMAR PARASHAR : ITAT- JAIPUR BENCH Exemption under s.54F: Capital gains— Exemption under s.54F: Full…
other topic
Whether education expenses paid for education of its Director is an allowable expenses ?
education expenses Whether education expenses paid for education of its Director is an allowable expenses education expenses: Where assessee company…
Bogus LTCG from Penny stocks
Sanjay Bimalchand Jain vs. Pr CIT (Bombay High Court) GIST: Bogus LTCG from Penny stocks: The assessee has not tendered…
CAPITAL GAIN EXEMPTION FOR INVESTMENT IN AGRICULTURAL LAND
CONDITIONS PRECEDENT FOR EXEMPTION U/S 54B The conditions necessary for grant of exemption under section 54B are : (i) capital…
Agricultural Land- Meaning for the purpose of section 2(14)(iii) of the Income Tax Acty-1961
SUB-CLAUSE (iii)-AGRICULTURAL LAND (i) General Section 2(4A)(iii) of the 1922 Act excluded from the ambit of “capital asset”, any land…
Unpaid tax dues of Pvt Ltd Company is no basis to lift corporate veil; No recovery can be initiated against Directors u/s 179(1) in absence of hearing
AHEMDABAD, : THE ISSUE BEFORE THE DIVISION BENCH IS – “Whether notices in form of recovery or reminders of unpaid…
Assessment in case the return in invalidated for non receipt of ITR – V
non receipt of ITR There are lot of return where the return is treated as defective u/s 139(9). For multiple…
Subsidy received is not Taxable !!
CIT vs. Chaphalkar Brothers Pune (Supreme Court) Taxability of subsidies: A subsidy granted by the Govt to achieve the objects…
Hold the breath: Delhi HC admits plea against section 43CA
Admits Builder’s challenge on vires of stamp duty value based taxation u/s. 43CA* Delhi HC admits Ansal Housing & Construction…
Revisionary power of commissioner
Hitech Analytical Services v. Pr. CIT Decision: Case remanded. Revision under section 264–Firm’s expenses claimed in individual return– Filed revised computation for…
MISTAKES TO AVOID INCOME TAX NOTICES
Non reporting of Exempt income: One of the reasons for income tax notices is investment by taxpayers not in accordance…
Dubai and Bahrain have been BLACKLISTED!!
BLACKLISTED Dubai and Bahrain have been BLACKLISTED as Tax Havens along with Panama and South Korea by the European Union!…
Taxation of F & O transactions
Taxation of F & O transactions Query 1] I am trading in equities; both delivery as well as non delivery…
Merger, Demerger & Amalgamation- Tax implications on shareholder
Merger Demerger & Amalgamation Query 1] 1000 equity shares of face value of Rs. 10 in N.F.C Ltd were allotted…
An additional compliance of submitting estimated current Income & Advance tax payment
Advance tax payment Query 1] We have read in the newspaper about filing of estimate of income tax return before…
Change in the base year from 1981 to 2001 is for all classes of assets
classes of assets Query 1] I am senior citizen. My present means of livelihood is my pension and bank FD…
Even small size firm are to get its accounts audited if income offered for taxation is less than 8%
taxation is less than 8% Query 1] We have 2 small Partnership Firms, one doing trading and other doing profession.…
NRI & taxation of mutual fund investments
taxation of mutual fund investments Query 1] My daughter purchased shares of Persistent Systems Ltd in 2009. She became NRI…
