Clipped from: https://taxguru.in/income-tax/structure-reassessment-provisions-income-tax-act-1961.html Summary: The reassessment provisions under the Income Tax laws are detailed in various sections, primarily Sections 147 to 151. Section 147 allows the Assessing
Category: Income Tax
👌👌👌👌👌👌👌Income Tax dept begins scrutiny in reassessment cases for AY-2018-19 | Economy & Policy News – Business Standard
Clipped from: https://www.business-standard.com/economy/news/income-tax-dept-begins-scrutiny-in-reassssment-cases-for-ay-2018-19-124073001536_1.html The scrutiny might result in a raft of tax notices Representative Picture The income-tax (I-T) department has started scrutinising cases for the assessment
👌👌👌👌👌👌👌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
👌👌👌👌👌👌👌Summary of Cost of Acquisition under Section 49(1) for Capital Gain Tax
Clipped from: https://taxguru.in/income-tax/summary-cost-acquisition-section-49-1-capital-gain-tax.html Explore Section 49(1) of the Income Tax Act, determining cost of acquisition for capital gains in non-transfer cases. Understand provisions, examples, and computation,
ITAT Delhi Sets Aside Ex-Parte Order as Notices were never served to Assessee
Raj Rani Vs ITO (ITAT Delhi) In the case of Raj Rani vs. Income Tax Officer (ITO), the Income Tax Appellate Tribunal (ITAT) Delhi bench set
👌👌👌👌👌👌👌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
👌👌👌👌👌👌👌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
[1]👌👌👌👌👌👌👌Summary of Cost of Acquisition under Section 49(1) for Capital Gain Tax
https://taxguru.in/income-tax/summary-cost-acquisition-section-49-1-capital-gain-tax.html Explore Section 49(1) of the Income Tax Act, determining cost of acquisition for capital gains in non-transfer cases. Understand provisions, examples, and computation, ensuring
Initiation of reassessment unjustified as nature and source of receipts duly explained: Delhi HC
https://taxguru.in/income-tax/initiation-reassessment-unjustified-nature-source-receipts-duly-explained-delhi-hc.html Experion Hospitality Pvt Ltd. Vs ITO (Delhi High Court) Delhi High Court held that once the nature and source of receipts have been satisfactorily
76% of income tax collected from those earning more than ₹50 lakh: Govt officials – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/76-of-income-tax-collected-from-those-earning-more-than-50-lakh-govt-officials/article68864001.ece Middle-class tax burden has eased in the past decade More than three-fourth of income tax in the country is collected from assessees with income more than
👌👌👌👌👌👌👌Capital Gains Tax | Redevelopment | CA | TDS on Property | NIL Certifi
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
👌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
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