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Man sold unlisted shares, bought Rs 5.65 cr house, faced income tax scrutiny; he fought back and won in ITAT Delhi despite low income declarationMr. Bansal successfully appealed a tax demand after claiming Section 54F exemption on Rs 7.59 crore long-term capital gains from unlisted s...- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Man sold land for Rs 3.21 crore, denied tax relief under Section 54F: Why ITAT Pune allowed full tax exemptionA Pune man successfully challenged the Income Tax Department, securing a full tax exemption on his Rs 3.21 crore land sale. Despite a techn...
- Denied Rs 91.45 lakh capital gains relief, taxpayer appeals in ITAT; tribunal turns the table on Income Tax DepartmentThe Income Tax Appellate Tribunal (ITAT) Pune ruled that investing full capital gains into a new property qualifies for Section 54F exempti...
- CGAS deposit should be on actual sale consideration received from the property instead of stamp duty, Why Budget 2026 must fix thisBudget 2026 should address discrepancies in the Capital Gain Account Scheme (CGAS) by basing deposits on actual sale consideration, not sta...
- ICICI Bank launches Capital Gains Account Scheme: Know how you can deposit uninvested capital gains to save income taxICICI Bank introduces a Capital Gains Account Scheme starting January 1, 2025. This scheme allows resident individuals and HUFs to deposit ...
- I plan to sell my house after 27 years and reinvest in another property. How to save LTCG tax?ET Wealth Reader's Query: I plan to sell my residential property, held for 27 years, and use part of the long-term capital gains (LTCG) to ...
- Good news: Soon Capital Gains Account Scheme accounts can be closed online; Here’s how property sellers can benefitExciting news for property sellers! Starting April 1, 2027, you can now effortlessly close your Capital Gains Account Scheme accounts onlin...
- Major update on Capital Gains Account Scheme: 19 new banks authorised to offer CAGS services for saving income tax by property sellersNineteen new banks are now authorized to offer Capital Gains Account Scheme Services. This expansion provides more options for taxpayers to...
- UP’s new unified circle rates: Here’s how homebuyers gain on price, tax & financingUttar Pradesh is rolling out a unified circle rate system designed to streamline property valuation and make stamp duty calculations a bree...
- I sold equities with capital gains of Rs 25 lakh, can I save tax by reinvesting it in property?ET Wealth Reader's Query: I earned Rs 25 lakh in capital gains from equities and mutual funds in 2024–25 and paid the tax. Can I now revise...
- Homebuyer was denied Rs 10 lakh capital gain tax exemption by Income Tax dept for not depositing unutilised land sale gains in CGAS on time, he wins case in ITAT ChennaiA homebuyer successfully claimed a Rs 10 lakh capital gains tax exemption. The tax department had initially denied this benefit. The ITAT C...
- Father sells house worth Rs 67 lakh and shows only Rs 1,690 income in ITR, wins case in ITAT Ahmedabad; Know howDilip, an Indian taxpayer, won a case at the ITAT Ahmedabad regarding a Section 54 LTCG tax exemption. Despite initially facing scrutiny fo...
- How to file ITR if you have sold house or land in FY 2024-25For AY 2025-26, individuals and HUFs selling property can save on capital gains by reinvesting in another property under Section 54/54F. Ch...
- How to file ITR-2 for AY 2025-26 with salary, capital gains, foreign income and others; Here's a step-by-step guideTaxpayers with income from salary, capital gains, or unlisted equity shares can file ITR-2. For AY 2025-26, the ITR-2 excel utility has six...
- LTCG tax: Paying only 12.5% tax on Capital Gains Accounts Scheme withdrawals while filing ITR FY2024-25? Tax dept could soon raise tax demandThe Capital Gains Account Scheme is a special facility offered to taxpayers under the current income tax laws, allowing taxpayers to claim ...
- When to use Capital Gains Account Scheme to save income tax if you made long-term capital gains after selling land, property, equities, etc.?Capital gains: Both Indian residents and NRIs can use Capital Gains Account Scheme (CGAS) to save paying capital gains tax on long-term cap...
- Selling a house and worried about LTCG tax? You can still pay zero tax u/s 54 despite the budget 2024 shockLTCG on property: You can still save income tax on selling a house despite Budget 2024 announcement. Revenue Secretary Sanjay Malhotra said...
- ET Wealth: Five things to know about Capital Gain Account SchemeThe gains, deposited in the CGAS, should be reinvested in a residential property within two years or used to construct a house within three...
- How to save tax on your capital gains while selling a houseAvoid the hefty tax outgo on your capital gains by making the sale at the right time and investing the proceeds in suitable avenues.
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