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NO TAX FOR SELLING LAND
Sold land for Rs 7.24 crore, paid no tax, received income tax notice; Know how Google Earth photos and revenue records helped taxpayer to win this case in ITAT AhmedabadFamily member sold his 1/3rd share of agricultural land for Rs 7.24 crore, pays no tax, tax dept sent notice, he wins case in ITAT Ahmedaba...- Sold property for Rs 94 lakh despite a stamp value of Rs 1.93 crore, received an income tax notice under Section 50C; ITAT Chennai grants relief for this reasonChennai man sold property for Rs 94 lakh despite Rs 1.93 crore stamp duty value; so tax dept sent notice u/s Section 50C to tax the differe...
- Count Binface, the man in a can with a plan, seeks Parliament seat in Britain's wackiest electionCount Binface, a comedian dressed as a garbage can, is challenging Nigel Farage. The candidate is running in a special election in Clacton-...
- From gold and LIC policy to SIPs and crypto: How investment habits changed from Boomers to Millennials to Gen ZModern Indians are redefining investment strategies; rather than saving first, the youth now prioritize their financial goals before choosi...
- How companies create fake cash in books, and take investors for a rideCash is the item on a balance sheet that most investors accept without argument. Revenue can be recognised early, inventory can be overvalu...
- India on track to exceed key fundraising goal on state-firm stake salesIndia is poised to achieve its divestment aspirations this fiscal year, with enhanced momentum in stake sales and asset monetisation. Altho...
- He worked 100-hour weeks to rescue a bankrupt North Carolina boat company. Decades later, it drew $400 million-plus offers, but at 83, he did something unexpectedAfter working 100-hour weeks to save a nearly bankrupt North Carolina boat company, Eddie Smith Jr. built Grady-White Boats into a thriving...
- NRI selling property, shares or gold in India? Here's how you can manage your capital gains tax in a better waySelling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Property sales offer significant tax redu...
- Man was denied Section 54F income tax exemption as builder delayed villa construction by 4 years; Telangana HC grants relief, says taxpayer can't suffer for builder's faultBuilder delayed villa's construction by 4 years, thus tax dept denied Section 54F tax exemption to homebuyer; Telangana HC says homebuyer c...
- ET Prime Special Series: Multibagger or IBC - Part 69: Can new businesses bridge the gap before EVs reshape the core?This old auto ancillary manufacturer has integrated plants, a long operating history, and stable group ownership. FY26 brought higher reven...
- Quote of the day by Barack Obama: "Hope is not blind optimism. It's not ignoring the..." — Inspiring life lessons on courage, resilience, leadership, purpose, determination, human potential, and why the greatest victories often begin when the odds seem impossible by the former US PresidentQuote of the day by Barack Obama: Barack Obama’s quote, "Hope is not blind optimism. It's not ignoring the enormity of the task ahead or th...
- Are you an NRI who sold an under-construction property? Here's what actually counts as your “Date of Purchase” for capital gains calculationNRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term ca...
- Don't let selling your house trigger a tax notice: Check these rules under Sections 54 and 54FMany taxpayers who purchase or construct a residential house to claim exemption under Sections 54 or 54F are unaware that selling the house...
- Save income tax when filing ITR for AY 2026-2027 by claiming Section 54 or 54F benefits if you sold land, house property or equity shares; Know howIndian taxpayers can claim capital gains tax exemptions by reinvesting sale proceeds. Section 54 and 54F allow exemptions for residential p...
- Tariff on generic drugs: Loud announcement, little consequence? 7 pharma stocks with upside potential of up to 31%The threat of a US tariff on Indian pharma is no longer a vague fear; or at least that is what President Trump wants us to believe. There i...
- Vizhinjam seaport gets final Customs clearance for EXIM operationsVizhinjam International Seaport secured Customs approval for EXIM operations. Final approval allows the port to commence cargo operations f...
- Wife paid Rs 58 lakh from Indian bank a/c, husband paid Rs 80 lakh from UAE bank a/c for property purchase; she gets tax notice for unexplained investment, wins case in ITAT Mumbai for this reasonTo purchase property in India, wife paid Rs 58 lakh from her bank a/c and husband paid Rs 80 lakh via his UAE bank a/c using Dubai exchange...
- Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax noticesNRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of sha...
- US couple saved up to $350,000 after living in a $600-a-month trailer before building their dream homeA US couple who spent six years living in a trailer with a $600 monthly housing payment has built a 3,600-square-foot dream home for about ...
- Bengaluru landowner sells 17 apartments, earns Rs 11.8 crore LTCG, pays no tax; I-T dept sends notices; he contests and wins in ITAT BangaloreLandowner sells 17 apartments, earns Rs 11.8 crore gains, paid no tax, reinvests gains into 5 properties; tax dept sent notice; he wins cas...
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