Nirmala Sitharaman, Hon’ble Finance Minister, presented the first budget on 23rd July 2024, of the current government. The budget, particularly, focuses on employment, skilling, MSMEs, and the middle class and…
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Income TaxUncategorized
Capital Gain Exemption Allowable On Construction Of Residential House Completed Within 3 Years: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), has held that the claim of capital gain exemption under Section 54 of the Income Tax Act, 1961 on construction…
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For the old tax regime, an individual, who is resident in India, is allowed a tax rebate under section 87A if the total income of such individual does not exceed…
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Selling or transferring a capital asset like property, capital gains arise which are taxable in the hands of the assessee/ taxpayer. Under Section 54 of the Income Tax Act, an…
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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that income derived from the sale of agricultural land is not a capital asset. The bench of Saktijit…
