The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has denied exemption of Long Term Capital Gains (LTCG) earned on sale of shares, the sale proceeds added to assessee’s income along with estimated commission. The

In a recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Loss from the sale of shares and mutual fundson which Securities Transaction Tax (STT) paid can't

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted additions made towards the loss incurred on the derivative transactions carried through the proper banking channel. The Assessee Kulvinder Nath Marwah, is an

In a video press conference conducted by Finance Minister Nirmala Sitharaman, today announced the extension of the deadline of Income Tax Returns for the Financial Year 2018-19 from 31st March, 2020 to 30th June, 2020.

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the Short Term Capital Loss on which STT was paid can be adjusted against the Short Term Capital Gain on which STT was not

The provisional figures of Direct Tax collections up to 8th October, 2022 continue to register steady growth. Direct Tax collections up to 8th October, 2022 show that gross collections are at Rs. 8.98 lakh crore

The Kolkata Bench of the Income Tax Appellate Tribunal friday held that any income earned by an assessee in respect of sale and purchase of shares in investment portfolios should be treated as “capital gains”,

In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19

The Central Board of Direct Taxes ( CBDT ) has notified the list of specified transactions of acquisition of equity shares where requirement of payment of STT to levy long-term capital gain tax under section

The Income Tax Appellate Tribunal (ITAT) Bangalore Bench, has recently, in an appeal filed before it upheld the revisional order on the ground of LTCG exemption on STT payment without verification. The aforesaid ruling was

With a view to curb tax evasion through "sham transactions" in stock market and protect genuine ones, the CBDT today proposed to exempt specified deals from long-term capital gains tax in cases where STT was

The Finance Bill, 2023 was amended by Finance Minister Nirmala Sitharaman on Monday (27th March 2023) in the Rajya Sabha to rectify the data on the rate of Security Transaction Tax (STT) to be assessed

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Transaction done through Bombay stock exchange on Securities Transaction Tax ( STT ) cannot be considered as sham or bogus transaction

Budget 2017 brought some significant changes in the long-term capital gains tax. Till the announcement of Budget, there were speculations that the Government may withdraw some exemptions given to the long-term capital gains. However, the

The two member bench of Income Tax Appellate Tribunal ( ITAT ) Delhi bench directed to allow exemption under section 10(38) of the Income Tax Act, 1961 only after verifying the status of STT payment.