By Legal Cell Section 50C of the Income Tax Act, 1961, is a crucial provision that deals with the determination […]
Tag: Income Tax
Compensation received from builder for redevelopment of society building is not capital gain
By Legal Cell Laxmankumar R. Daga, Mumbai vs Ito 14(1)(1), Mumbai on 15 March, 2017 PER N.K. PRADHAN, AM This […]
No Capital Gain Tax On Society Redevelopment:- Income Tax Appellate Tribunal – Mumbai
By Legal Cell Income Tax Appellate Tribunal – Mumbai Chiranjeev Lal Khanna, Mumbai vs Assessee In principle, though the scope […]
CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer
By Staff Reporter The Finance Act, 2023 brought in an amendment for the purposes of calculation of “perquisite” with regard […]
Income Tax implication on Members of society under redevelopment
By Legal Cell As discussed, the capital gains on transfer of development rights to the developer arises : to the […]
Benami Property: All you need to Know
By RAJKUMAR S. ADUKIA What does Benami mean? Benami is a South Asian word that means “without name” or “no […]
Consideration for permission to use TDR/ FSI not chargeable to tax: ITAT Mumbai
By Legal Cell The assessee co-op housing society gave permission to a developer to construct 2 floors and 8 flats […]
No Capital Gain Tax On Society Redevelopment
By Legal Cell Kushal K. Bangia vs. ITO (ITAT Mumbai) – In principle, though the scope of “income” in s. […]
Society Redevelopment is Not Transfer in society’s hands
By Legal Cell Raj Ratan Palace Co-op Hsg Soc vs. DCIT (ITAT Mumbai)- The assessee-society had merely given permission to […]
Applicability of Chapter XXC of Income Tax to Housing Society, Additional FSI & TDR
By Vimal C. Punmiya, Chartered Accountant 1. Before delving into the applicability of provisions of Chapter XXC and Taxability of […]
