Clipped from: https://mnpartners.in/capital-gains-tax-in-redevelopment/ One of my clients recently reached out to me with a unique situation. His inquiry was primarily around Capital Gains Tax in Redevelopment His case
Category: Income Tax
👌Reversal of provision of inventory written off due to obsolescence allowed: ITAT Bangalore
Clipped from: https://taxguru.in/income-tax/reversal-provision-inventory-written-due-obsolescence-allowed-itat-bangalore.html Essilor India Pvt. Ltd. Vs DCIT (OSD) (ITAT Bangalore) ITAT Bangalore held that deduction towards reversal of provision for inventory written off due
👌👌👌👌👌Bombay HC Quashes Section 148 Proceeding, Orders De Novo Assessment
Clipped from: https://taxguru.in/income-tax/bombay-hc-quashes-section-148-proceeding-orders-de-novo-assessment.html Anil Kumar Mehta Vs ITO (Bombay High Court) In Anil Kumar Mehta vs Income Tax Officer (ITO), the Bombay High Court addressed procedural issues
👌👌👌👌👌👌👌Long-Term Capital Gains on Sale of Immovable Property in India
Clipped from: https://taxguru.in/income-tax/long-term-capital-gains-sale-immovable-property-india.html As per the Indian Income-tax Act, income arising from the sale of a capital asset is taxed under the head ‘Income from Capital
👌👌👌👌👌👌👌Redevelopment of society – Tax implications
Clipped from: https://taxguru.in/income-tax/redevelopment-society-tax-implications.html I. Introduction II. Income tax considerations A. Whether sale of development rights amounts to transfer and thereby chargeable to tax under the head
👌👌👌👌👌👌👌Immovable Property Sold at less than Stamp Duty Value – Tax Impact on Seller
Clipped from: https://taxguru.in/income-tax/immovable-property-sold-stamp-duty-tax-impact-seller.html Income-Tax Implications for the Sellers, if any Immovable Property is Sold for a consideration less than Stamp Duty Value When any person sells
👌👌👌👌👌👌👌Income-Tax Implications: Joint Development Agreement & Property Transactions
Clipped from: https://taxguru.in/income-tax/income-tax-implications-joint-development-agreement-property-transactions.html “Explore Income-Tax Implications of Joint Development Agreements in Property Transactions. Unveil the complexities of Section 45(5A) of the Income-tax Act, 1961, covering mechanisms,
👌👌👌👌👌👌👌Section 45, Section 48 and Section 54 of the Income Tax Act, 1961
Clipped from: https://taxguru.in/income-tax/idea-capital-gain-tax-property-redevelopment-heres-know.html No Idea about Capital Gain Tax but Property Under Re-Development? Here’s all you Need to Know!! The Finance Act, 2017 inserted a new
👌👌👌👌👌👌👌Holding period computable from allotment letter date & not sale agreement registration date
Clipped from: https://taxguru.in/income-tax/holding-period-computable-allotment-letter-date-sale-agreement-registration-date.html Minaxi Mahesh Pawani (Deceased) through Legal Heir Pratik Mahesh Pawani (ITAT Mumbai) For Capital Gain and for Indexation holding period shall be computed
👌👌👌👌👌👌👌Capital Gain Tax – Holding Period of The Property
Clipped from: https://taxguru.in/income-tax/capital-gain-tax-holding-period-property.html The holding period of the property to compute Capital Gain tax is always a subject matter of controversy between the taxpayer and the
👌👌👌👌👌👌👌Capital Gain Tax Exemption on Property under Redevelopment
Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemption-property-redevelopment.html 1. Redeveloping old buildings and societies is gaining momentum in major cities like Mumbai, Delhi-NCR, Surat, Bengaluru etc. Mumbai, India’s financial capital, is
👌👌👌ITR forms–Recheck-Perplexity
Types of ITR Forms Choosing the Right Form Filing Process You can file your ITR online through the Income Tax Department’s e-filing portal or through
👌👌👌👌👌Punjab and Haryana HC Invalidates S.148 Notices for Non-Compliance
Clipped from: https://www.taxscan.in/punjab-and-haryana-hc-invalidates-s-148-notices-for-non-compliance-with-faceless-assessment-procedure-read-order/453750/ The Court determined that the notices issued by the Jurisdictional Assessing Officer were not compliant with statutory requirements, leading to a lack of
👌👌👌👌👌Employees’ Provident Fund: A look at withdrawal, taxation, TDS applicable on EPF – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/employees-provident-fund-a-look-at-withdrawal-taxation-tds-applicable-on-epf-453174-2024-11-10 It is important to comprehend the tax implications of EPF withdrawals to prevent any unforeseen tax liabilities. Withdrawals made before completing five years
👌👌👌Key Income Tax Deadlines You Can’t Afford to Miss: Only a few days left! Avoid heavy penalties – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/key-income-tax-deadlines-you-cant-afford-to-miss-only-a-few-days-left-avoid-heavy-penalties-3661726/?ref=money_hp If you fail to pay taxes on time, it might lead to penalties as well as many problems. Being aware of income tax
👌Reduce need for year-end refunds – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/reduce-need-for-year-end-refunds-3654621/ Employees now have a formal method to present their full tax obligation to employers, ensuring greater accuracy in TDS deductions. The submission of
👌Dismissal of appeal merely because appeal was filed manually instead of e-filing unjustified: ITAT Ahmedabad
Clipped from: https://taxguru.in/income-tax/dismissal-appeal-appeal-filed-manually-e-filing-unjustified-itat-ahmedabad.html Mayursinh Jayandrasinh Jadeja Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that dismissal of appeal by CIT(A) on technical/ procedural aspect merely because the
👌👌👌👌👌Industry bodies urge Finance Ministry to ease TDS rate structure | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/simplify-tds-rate-structure-to-reduce-compliance-burden-industry-bodies-124110701839_1.html Proposal seeks to lessen compliance burden on taxpayers and avoid litigation With the Budget to be presented in February next year, the Federation
👌👌👌👌👌👌👌Why Income Tax Notices Are Issued: Reasons and Compliance Tips
Clipped from: https://taxguru.in/income-tax/income-tax-notices-issued-reasons-compliance-tips.html Let’s understand why notice under income tax issued : Key Reasons, Types, and Best Practices for Compliance Summary: The rise in income tax notices
👌👌👌👌👌P&H HC Sets Aside Section 148 IT Notices Without Faceless Assessment
Clipped from: https://taxguru.in/income-tax/ph-hc-sets-section-148-it-notices-faceless-assessment.html Sai Vinayakka Education Society Through Ashwani Sood Vs ACIT (Punjab and Haryana High Court) In the case of Sai Vinayakka Education Society Through Ashwani
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