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Gold ETF Gains in India: How Much Tax Will NRIs Pay? Key Rules Explained

Gold has a strong place in Indian savings. NRIs also use gold as a hedge. Many NRIs prefer Gold ETFs because they feel simple. No locker is needed....

No Hierarchy in STCL Set-Off u/s 70(2): ITAT Strikes Down AO’s Computation Method

NRI Property Sale: Decoding Capital Gains, TDS Obligations under IT Act, and Repatriation Compliance...

Zero Tax up to Rs. 12.75 Lakh u/s 87A, But Will Short-Term Capital Gains Still Attract Income Tax?

Union Budget 2025 Expectations: Everything We Know So Far

Budget 2024: FM Proposes to Withdraw 2% Equalization Levy for E-commerce [Read Bill]

The Finance Minister's Budget 2024 proposal to withdraw the equalisation levy for e-commerce. Presented on July 23, 2024, the budget introduces changes to income tax slabs, long-term capital gains (...

Budget 2024 - FM - Withdraw 2% Equalization Levy - E-commerce - TAXSCAN 1

Transfer of Depreciable Capital Assets Attracts Capital Gains Tax u/s 45 (4) of Income Tax Act: Kerala HC [Read Order]

The Kerala High Court has held that the transfer of the depreciable capital assets attracted capital gains tax under Section 45(4) of the Income Tax Act, 1961in the absence of distribution of any...

Sale Consideration not accruing to the Assessee in the Year under Consideration but Extending to Many Years, not to be Computed as Short-Term Capital Gains: ITAT

The Income Tax Appellate Tribunal “SMC” Bench, Pune, has, while jointly considering two appeals filed on the same ground bydifferent assessees, held that sale consideration not accruing to the...

Income from Sale of Property received by Real Estate Agent Taxable as Business Income: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT)has held that the sale consideration received by a real estate agent towards the sale of property shall be treated as business income...

Dept cannot change status of Assessee to Trader when it had accepted him as Investor in previous year merely because he made some profit on shares: ITAT

While dismissing the cross-appeals filed by both the Revenue and Assessee, the Mumbai ITAT ruled that the Revenue cannot change the status of Assessee to the trader when it had accepted him as the...