Clipped from: https://www.financialexpress.com/money/income-tax/how-to-save-tax-after-selling-a-house-property-in-india-in-2023-explained/3069783/?ref=Must_Read Tax saving on selling a property in India: Selling a house for profit is a big decision. But not handling the tax implications
Category: Income Tax
👍👍👍👍👍Capital Gain Tax News Today: Long and Short-Term Capital Assets and How Gains From Shares are Taxed | The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/capital-gain-tax-news-today-long-and-short-term-capital-assets-and-how-gains-from-shares-are-taxed/3053458/ Capital Gain Tax News Today: A report on Tuesday claimed that the Government is considering an increase in capital gains taxes for the
👍No TDS Default on Interest Payments, if Form 15G/15H Submitted by Assessee before Year-end: ITAT
Clipped from: https://www.taxscan.in/no-tds-default-on-interest-payments-if-form-15g-15h-submitted-by-assessee-before-year-end-itat/272400/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20TDS%20Default%20on%20Interest%20Payments,%20if%20Form%2015G/15H%20Submitted%20by%20Assessee%20before%20Year-end:%20ITAT The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that no TDS default can me imposed on interest
👍👍👍👍👍👍👍ITR filing by self 2023: 5 things you should do to prepare for ITR filing on your own in 2023 | The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax/itr-filing-by-self-2023-5-things-to-prepare-for-income-tax-returntr-filing-on-your-own-in-2023/3061408/ ITR filing by self in 2023: Changes on the e-filing website in the last few years have made it easy for anyone to
👍👍👍👍👍‘Incriminating’ material must for I-T Act’s Section 153A assessment, says Supreme Court – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/incriminating-material-must-for-i-t-acts-section-153a-assessment-says-supreme-court/article66774430.ece Section 153 A of the Income Tax Act, 1961 aims to bring under tax the undisclosed income which is found during the course of
👍👍👍👍👍👍👍How an Association of Persons will be taxed
Clipped from: https://taxguru.in/income-tax/association-persons-taxed.html Introduction An association of persons (AOP) , whether incorporated or not, is treated as a ‘person’ under section 2(31) of the Income-tax Act,
👍Section 143(3) order invalid if Passed without Issuing Section 143(2) notice
Clipped from: https://taxguru.in/income-tax/section-1433-order-invalid-passed-issuing-section-1432-notice.html Manjit Kaur Vs ITO (ITAT Chandigarh) ITAT held that the assessment order is bad in law for the reason that the assessing authority
👍Rs. 20000 Limit under section 269SS & 269T is person wise
Clipped from: https://taxguru.in/income-tax/rs-20000-limit-section-269ss-269t-person-wise.html Shri Deepak Mata Vs JCIT (ITAT Jaipur) Bench found that the plain reading of both the Sections denotes that Section 269SS is attracted
Capital gain tax and What are the exemptions allowed
Clipped from: https://taxguru.in/income-tax/capital-gain-tax-exemptions-allowed.html Capital Gain Tax Capital gain tax is a tax levied by the government on the profit earned from the sale or transfer of
👍👍👍👍👍👍👍Capital Gains Exemptions under Section 54, 54F and 54EC
Clipped from: https://taxguru.in/income-tax/capital-gains-exemptions-section-54-54f-54ec.html The Article covers Section 54 : (Exemption on Sale of Residential House), Section 54F (Exemption on Sale of LTCA Other than Residential House), Section
👍👍👍👍👍👍👍How To Register Legal Heir on Income Tax Portal?
Clipped from: https://taxguru.in/income-tax/register-legal-heir-income-tax-portal.html Death is uncertain but sure. After demise if taxpayer, legal heir is the person who takes control over all the assets and liabilities.
👍👍👍👍👍👍👍Exemptions from Capital Gain under Income Tax act, 1961
Clipped from: https://taxguru.in/income-tax/exemptions-capital-gain-income-tax-act-1961.html Gist of Section 45: Any Profit or gain arising from the transfer of Capital asset is taxable as a Capital Gain u/s 45
👍👍👍👍👍👍👍Reopening of Assessments Section 147 w.e.f. 01.04.2021
Clipped from: https://taxguru.in/income-tax/reopening-assessments-section-147-w-e-f-01-04-2021.html The Finance Act, 2021 had changed the law applicable to the reopening of assessments with effect from 1st April, 2021. Relevant sections are sections 147 to
👍Income Tax Dept releases JSON Schema for ITR-1 and ITR-4 for AY 23-24
Clipped from: https://www.taxscan.in/income-tax-dept-releases-json-schema-for-itr-1-and-itr-4-for-ay-23-24/268644/ The Income Tax Department has released the JSON Schema for ITR-1 and ITR-4 for the Financial Year 2022-23 or Assessment Year 2023-20424. ITR-1 is applicable
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