Revised Base Year Cost Inflation Index Notified

The government enacted vide Finance Act 2017 that the base year for the cost inflation index will be revised to 2001 from the base...
compensation for delay in handing over flats

Compensation or Interest for Delay in Handing Over Flat is Not Taxable !

The delay in handing over the flat is very common problem and as readers may have read recently  Supreme Court came on very heavily...

Valuation u/s 50C at Option of Assessee Either From Date of Agreement or From...

This is extremely good news for those whose case is in scrutiny at present and likely to suffer on account of higher stamp duty...

Sale of Land As Fixed Asset in Real Developer’s Balance Sheet Can Still be...

Can a person who is involved in real estate business  claim capital gains on a land shown under fixed asset in his/its balance sheet...
gifted property

Capital Gains on Gifted Property or Inherited Property Simplifed !

Have you sold or thinking to sale the house or shares or any jewellery gifted by your father or any family relative . Maybe...

How to find the period of holding in case stock –in-trade is converted as...

Section 45(2) of the Income Tax Act cover a case of conversion of investments to stock-in-trade. But , there is no provision to cover...
singapore dtaa

India Withdraws Capital Gain Exemption Allowed to Singapore Residents !

Are you thinking that there is some error in the headline ? or Maybe thinking that the title of the article should have been "India withdraws...

Capital Gains vs Business Income Controversy : CBDT Issues Benevolent Circular

In keeping woth the promise of the government which set up the Tax Simplifcation Comittee to clean the mess of the disputes between the...
tax exemption u-s 54

Tax Exemption u/s 54 Allowed Even if You Invest Capital Gains in More Than...

Section 54 of the Income Tax Act provides that if the long term capital gains on sale /transfer of a house property is used for...
capital gains on sale

Capital Gains on Sale of Property Still Exempt u/s 54 if It is Used...

Long term capital gains on sale of property is exempted from tax to the extent it is utilized to purchase another residential house within...

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