Clipped from: https://taxguru.in/income-tax/cbdt-issues-revised-guidelines-compounding-income-tax-act-offences.html Central Board of Direct Taxes (CBDT) has issued revised guidelines for the compounding of offences under the Income-tax Act, 1961, effective from October
Category: Income Tax
👌👌👌👌👌👌👌Key Amendments to Capital Gains in Budget 2024-25
Clipped from: https://taxguru.in/income-tax/key-amendments-capital-gains-budget-2024-25.html Normally in our country Budget of Central Government is declare on 1st February every year, but due to election of Lok Sabha, on 1st February,
👌👌👌👌👌👌👌Calculation of Capital Gains on property received by Gift or Will
Clipped from: https://taxguru.in/income-tax/calculation-capital-gains-property-received-gift.html Summary: Capital gains from property received by gift or will are calculated based on the cost of acquisition by the previous owner, as per
Why Income Tax Notices for Additional Tax on Capital Gains?
Clipped from: https://taxguru.in/income-tax/income-tax-notices-additional-tax-capital-gains.html Those taxpayers who filed their income tax returns of March 2024 and had income from capital gains are now receiving notices asking them
No reassessment on basis of invalid notice u/s 148, deleted additions of 6.93 Crores
Clipped from: https://taxguru.in/income-tax/reassessment-basis-invalid-notice-u-s-148-deleted-additions-6-93-crores.html Regalia Laminates MCD Buliding Vs ITO (ITAT Delhi) Conclusion: Reassessment initiated under an invalid notice issued under Section 148 as there was no new
Kerala HC Holds Rectification Order is Invalid If It Fails to Provide Reasons in exercise of Rectification Power
Clipped from: https://www.taxscan.in/rectification-order-is-invalid-if-it-fails-to-provide-reasons-in-exercise-of-rectification-power-kerala-hc-read-order/448932/ It was observed that the personal hearing notice does not indicate that any reason justifying the exercise of power of rectification was pointed
How Delhiites, Maharashtrians and Kannadigas are shelling out more direct taxes – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/how-delhiites-maharashtrians-and-kannadigas-are-shelling-out-more-direct-taxes/article68778850.ece The direct tax to GDP ratio is the highest in these States due to high per capita income and lower share of agriculture
👌👌👌👌👌👌👌THE NEW REGIME OF REASSESSMENT PROCEEDINGS UNDER SECTION 148A OF THE INCOME-TAX ACT, 1961: A 20-POINT CHECKLIST FOR REPRESENTATION – Digest of case laws
Clipped from: https://itatonline.org/digest/articles/the-new-regime-of-reassessment-proceedings-under-section-148a-of-the-income-tax-act-1961-a-20-point-checklist-for-representation/ By Dr. K. Shivaram, Senior Advocate & Mr. Shashi Bekal, Advocate Executive Summary The Article aims at providing a detailed guide for advocates,
👌👌👌👌👌👌👌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
👌👌👌👌👌👌👌Section 54F: Capital gains can be invested multiple times to buy a new residential house property – Tax2win
Clipped from: https://tax2win.in/guide/section-54f-capital-gains-multiple-investments-residential-property Section 54F: Capital Gains Can be Invested Multiple Times to Buy a New Residential House Property Updated on: 10 Sep, 2024 11:55 AM
👌👌👌👌👌👌👌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
👌👌👌👌👌👌👌Clear Tax–Capital Gains Tax — Important Information
Which ITR form am I supposed to file on capital gain from the Sale of Property or Gold? You are supposed to file ITR –
👌👌👌👌👌👌👌ITR Filing Plans and Pricing | CA Assisted Income Tax Filing | ClearTax Pricing
Clipped from: https://cleartax.in/s/pricing?utm_ref=in-lineCTA#expert-assisted-itr Get a dedicated tax expert to handle everything, from start to finish To improve our assistance and address your queries promptly, kindly share
👌👌👌👌👌👌👌Capital Gains Tax on the Sale of Property
Clipped from: https://cleartax.in/s/capital-gain-tax-on-sale-of-property-shares-gold Selling property is a significant financial transaction, and understanding the tax implications under the Income-tax Act, 1961 is crucial for anyone involved in
👌👌👌👌👌👌👌Long-Term Capital Gains(LTCG): Tax Rates, How to Calculate, Exemptions and Examples
Clipped from: https://cleartax.in/s/long-term-capital-gains-ltcg-tax Any profit/gains arising from the transfer of capital assets such as property, shares, bonds, vehicles, etc., are subject to income tax under the
👌👌👌👌👌👌👌Capital gain tax on sale of property received by gift – Income Tax | Tax queries
Clipped from: https://www.caclubindia.com/forum/capital-gain-tax-on-sale-of-property-received-by-gift-610331.asp My father purchased a residential property (say X) in 1990. Now I have bought an under-construction residential property (say Y) with a home
👌👌👌👌👌👌👌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
Restrictions on cash transactions रोखीच्या व्यवहारांवरील निर्बंध
Clipped from: https://www.loksatta.com/business/personal-finance/restrictions-on-cash-transactions-mmdc-css-98-4662131/ आर्थिक व्यवहार करण्यासाठी सध्या अनेक पर्याय उपलब्ध आहेत. पूर्वीच्या काळी फार थोडे पर्याय उपलब्ध होते, त्या वेळी रोखीच्या व्यवहारांवर अधिक भर होता. रोखीच्या
👌👌👌👌👌New ITR e-filing portal 3.0 to be launched soon, check new features and other details you need – BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/new-itr-e-filing-portal-30-to-be-launched-soon-check-new-features-and-other-details-you-need-450719-2024-10-19 In accordance with the internal circular, the tax department has announced that the IEC project provides an online platform for taxpayers to electronically