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“New Holding Period Rules for Immovable Property: What You Need to Know About Capital Gains Tax”

The Finance Act plays a pivotal role in updating and amending various provisions under the Income Tax Act, 1961 to reflect current economic conditions, policy changes, and government priorities. One of the key areas impacted by amendments in the

What Tax Relief is Available Under Section 54EC for Long-Term Capital Gains on the Sale of Specific Bonds and Securities?

Section 54EC of the Income Tax Act, 1961 provides tax relief for taxpayers who face long-term capital gains (LTCG) from the sale of assets like land, property, and securities. By reinvesting the gains in specified bonds, such as those

How is the Capital Gain on the Sale of Shares and Securities by Non-Residents Taxed Under Section 115E and Related Sections?

The taxation of capital gains arising from the sale of shares and securities by non-residents is governed by specific provisions under the Income Tax Act, 1961. Section 115E plays a key role in determining the tax treatment of capital

“How to Handle Capital Gains Tax in the Case of Compulsory Acquisition Under Section 45(5A)”

The Income Tax Act, 1961 provides specific provisions for the taxation of capital gains arising from the compulsory acquisition of assets under Section 45(5A). When a government authority acquires a capital asset (such as land, property, or any other

What Are the Special Provisions for Taxing Capital Gains Arising from the Sale of Agricultural Land Under Section 54B?

Section 54B of the Income Tax Act, 1961 provides special provisions for the taxation of capital gains arising from the sale of agricultural land. The objective of Section 54B is to provide relief to farmers and individuals involved in

Capital Gains in Firm Reconstitution: The Role of Deemed Transfer Under Section 45(4)” A Complete Guide

When a business entity such as a firm or an Association of Persons (AOP) undergoes dissolution or reconstitution, the treatment of its capital assets becomes a critical area of tax concern. Under Section 45(4) of the Income Tax Act,

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