Top 10 Income Tax News of this Week

No Income Tax Liability on Customary Practice of NRI Providing Cash to Parents out of Savings of Family Members

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ITAT allows Exemption to Partner’s Share of Profit relying on Partnership Deed

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Capital Gain Exemption u/s 54B cannot be claimed for Agricultural Land purchased in Wife’s Name

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Cash Deposit by Real Estate Agent is Sustainable as not Confirmed by Investor or Builder: ITAT

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Cash Deposits not Corroborated with Business Receipts or Cash Withdrawals are Taxable

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HUF eligible for Capital Gain Exemption for Property purchased in the Joint Name of Members

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Normal Income Tax Slab Rates applicable to Estate of Deceased Assessee

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CSR Expenses, Contribution to CM’s Relief Fund eligible for Income Tax Exemption

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Remuneration and Share Profits received from Partnership Firm are not eligible for Deduction u/s 80IB

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Trademark Registration Expenses to sell Products in Foreign Countries allowable as Business Expenditure

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