Social Media Ideas for Finance Act 2014 Section 54 Amendment

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction     Proportionate investment qualifies, extended deadline applies and there is no ₹50 lakh cap, say...

Section 50C Cannot Reduce Section 54F Exemption: ITAT Chennai

Section 50C Cannot Reduce Section 54F Exemption: ITAT Chennai   Stamp duty value cannot replace actual sale consideration for computing “net consideration” under Section 54F; full...

Section 54F Relief Available Even for Extension of an Existing House? Bangalore ITAT Says Yes

Section 54F Relief Available Even for Extension of an Existing House? Bangalore ITAT Says Yes Keywords: Section 54F construction, Section 54F existing house, structural additions S...

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore

Section 54 Exemption Cannot Be Denied on Hyper-Technical Grounds: ITAT Bangalore   Substantial investment in construction of a residential house is enough where the assessee establ...

Centre brings amnesty scheme for PF Trusts to regularise their status

Recognition under the Income Tax Act, 2025 shall be available only to provident funds that have obtained exemption under Section 17 of the 1952 Act

Section 54F Exemption Allowed for Multiple Residential Units: ITAT Hyderabad Gives Relief

Section 54F Exemption Allowed for Multiple Residential Units: ITAT Hyderabad Gives Relief   No plan approval requirement, no automatic denial for multiple units – ITAT explains wha...

Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7...

Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7-Year Delay in Construction   Landmark Ruling on Joint Devel...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier: ITAT Bangalore   Landmark Ruling Clarifies That the Date of...

Sold Multiple Houses in the Same Year? ITAT Bangalore Rules Section 54 Exemption Is Available for Each House Separately

Sold Multiple Houses in the Same Year? ITAT Bangalore Rules Section 54 Exemption Is Available for Each House Separately   Keywords: Section 54 multiple houses, Section 54 exemption...

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasi...

Section 54F Exemption Allowed on Property Purchased from Husband: ITAT Mumbai Says Genuine Tax Planning Is Not Tax Evasion ₹6.91 crore exemption allowed where residential property...

One House Sold… Two Houses Bought! Will Section 54 Still Save Your Tax?

One House Sold… Two Houses Bought! Will Section 54 Still Save Your Tax?   [Query 1] I am having an inherited house, 1 residential flat and a residential plot. My wife is having a r...

Section 10(14)(i) under new tax regime: Wrong claims can trigger income tax notices, warns tax expert

While taxpayers under the new tax regime have limited opportunities to claim exemptions, Section 10(14)(i) remains available for specified allowances provided by employers to meet...

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur   Where agreement to sell was executed before section 43CA came into force and substantial c...

Can You Claim Section 54 Exemption for Multiple Floors in One Redeveloped Building? ITAT Mumbai Gives a Big Relief

Can You Claim Section 54 Exemption for Multiple Floors in One Redeveloped Building? ITAT Mumbai Gives a Big Relief   Keywords: Section 54 redevelopment, multiple floors Section 54,...

Section 56(2)(x): Can Stamp Duty Value on Registration Date Trigger Tax Even When the Property Deal Was Finalised Years...

Section 56(2)(x): Can Stamp Duty Value on Registration Date Trigger Tax Even When the Property Deal Was Finalised Years Earlier? ITAT Ahmedabad Says No     Keywords: Section 56(2)(...

Section 47(iv) Relief Upheld for Intra-Group Share Sale Ahead of Fast-Track Merger

EPFO rolls out 6-month Amnesty Scheme to regularise exempted PF trusts

Under the revised framework, recognition under the Income Tax Act will now be available only to provident funds that have obtained exemption under Section 17 of the EPF Act

Misclassified Tax Cannot Become A Lawful Levy: Limitation Cannot Validate An Unauthorised Tax Collection

Introduction The question of whether the Government can retain an amount collected as tax despite the absence of a lawful statutory liability has repeatedly arisen under the erstwh...

Govt Defends Section 43B(h), Rules Out Changes to MSME Payment Compliance

The Government has reiterated that Section 43B(h) of the Income Tax Act was introduced to encourage timely payments to Micro and Small Enterprises (MSEs) and address their long-sta...

Foreign assets disclosure scheme: Who is eligible, what it means for small taxpayers & tax payable

The Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS), 2026, is a one-time disclosure mechanism for eligible taxpayers who have either failed to report certain foreign...

CBDT Grants IT Exemption to District Legal Service Authority, Panchkula U/S 10(46)

The Central Board of Direct Taxes (CBDT), acting on behalf of the Central Government, has issued a new tax relief measure through Notification No. 112/2026, dated August 11, 2026....

Section 50C Addition Cannot Survive When AO Fails to Refer Valuation Dispute to DVO: ITAT

Section 50C Addition Cannot Survive When AO Fails to Refer Valuation Dispute to DVO: ITAT   Assessee disputed stamp duty value and specifically requested DVO reference, but AO proc...

CBDT grants retrospective income tax exemption to BBNDA under Section 10(46)

The CBDT has granted the Baddi Barotiwala Nalagarh Development Authority (BBNDA) a retrospective income tax exemption under Section 10(46) of the Income-tax Act, 1961. The exemptio...

Govt rolls out foreign asset disclosure scheme for small taxpayers

The Income Tax Department on Saturday notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effe...