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Section 2 47 of income tax act 1961

Web6 Dec 2024 · Section 45 (2) of the IT Act deals with the taxability on profits and gains that arises from the conversion of capital assets into stock in trade. It came into effect from 1 st April 1985. There was no provision of taxability on the conversion of stock into capital assets under the Income-tax Act, 1961. However, now according to the amendment ... Web10 Apr 2024 · This book is a complete guide to all matters pertaining to the taxation of real estate developers & joint development arrangements from an income tax & accounting …

What is a Capital Asset for Capital Gains Tax with Case Laws

Web10 Apr 2024 · This book is a complete guide to all matters pertaining to the taxation of real estate developers & joint development arrangements from an income tax & accounting perspective. It addresses the tax issues relating to the land owner, developer, and other stakeholders such as flat owners or buyers of real estate. This book is amended by the … WebSection 47 of Income Tax Act 1961 as amended by the Finance Act 2024 and Income-tax Rules, 1962. Transactions not regarded as transfer. Amended and updated notes on … discord clyde ai bot https://constantlyrunning.com

Section 49 of Income Tax Act Cost with reference to certain …

Web2 Jul 2024 · As per Section 2(9) of the Income Tax Act, 1961, states that assessment year means the 12 month period beginning on the 1st day of April every year. The assessee is … WebThe Mumbai bench of Income-tax Appellate Tribunal (Tribunal) denied the applicability of section 79 of the Income-tax Act, 1961 (the Act), where voting power and beneficial ownership effectively remained the same. Furthermore, ... [2016] 66 taxmann.com 47 (Delhi) 2 ITA No. 3914/MUM/2024 . 2 PwC Tax Insights Tribunal’s ruling Web6 Apr 2024 · Sub: Clarification regarding deduction of TDS under section 192 read with sub-section (IA) of section 115BAC of the Income-tax Act, 1961 – reg. Vide Finance Act, 2024, sub-section (1A) has been inserted in section 115BAC of the Income-tax Act, 1961 (the Act) to provide for a new tax regime with effect from the assessment year beginning on or … discord coding servers

CIT vs. Balbir Singh Maini (Supreme Court) – itatonline.org

Category:TRANSACTIONS WHICH ARE NOT CONSIDERED AS TRANSFER UNDER INCOME TAX ACT …

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Section 2 47 of income tax act 1961

Income Tax Department

Web1 Apr 2024 · The definition of ‘Transfer’ in section 2 (47) of the Income Tax Act of 1961 is broad and should be interpreted broadly. It should be noted that the term “transfer” is … Web4 Jul 2024 · Section 47 of Income Tax Act,1961: Transactions not regarded as transfer. Nothing contained in section 45 shall apply to the following transfers :—. (i) any …

Section 2 47 of income tax act 1961

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http://taxpage.in/section-247-definition-of-transfer.html WebCentral Government Act. Section 47A in The Income- Tax Act, 1995. 47A. 4 Withdrawal of exemption in certain cases Where at any time before the expiry of a period of eight years from the date of the transfer of a capital asset referred to in clause (iv) or, as the case may be, clause (v) of section 47,-. such capital asset is converted by the ...

Web(1) Perquisites which are taxable in the hands of all categories of employees. (2) Perquisites which are taxable only when the employee belongs to a specified group i.e. he is a specified employee. (3) Specified security or sweat equity shares allotted or transferred by the employer to the assessee. Web19 Aug 2015 · Section 48 of the Act provides for mode of computation of capital gains. Before delving into the controversy involved in the present case, it would be advantageous to refer to the relevant portion of Section 2(47) of the Act defining ‘transfer’, which reads thus:-Section 2(47) of Income Tax Act, 1961 – Definition of Transfer

WebTransactions not regarded as transfer are defined under section 47 of Income Tax Act 1961. Provisions under this section are: Section 47 of Income Tax Act "Transactions not … WebWhat may appear to be a piffling case of judicial interpretation may have significant ramifications. One of such pertinent yet not so widely discussed issues is the erroneous …

Web(2) Where at any time, before the expiry of a period of three years from the date of the transfer of a capital asset referred to in clause (xi) of section 47, any of the shares …

WebThe following clause (viib) and Explanation thereto shall be inserted after clause (viia) of section 47 by the Finance (No. 2) Act, 2014, w.e.f. 1-4-2015 : ( viib ) any transfer of a … discord color changing roleWebhis employer as " Profits in lieu of Salary" under section 17(3)(iii) of Income Tax Act, 1961 as it is a well settled proposition of law that payment made by former ... 47,21,154/- from ex-gratia taken as capital receipt. The ld. A.O taxed the amount u/s 17(3)(iii) of the Act by treating it as additional compensation ... four customer personalitiesfour customer segmentsWeb1 Apr 2024 · SECTION 54EC OF THE INCOME TAX ACT, 1961. Security Name PFC Capital Gain Tax Exemption Bonds –Series VII Rating ‘AAA/Stable’ by RISIL, ‘AAA ... 3/31/2024 7:47:45 PM ... four cuts of my lifeWeb2 days ago · Thousands of such Section 148A notices have gone out, including to individuals, seeking explanations. Section 148A of the Income-Tax Act, 1961, was … discord color bot commandsWeb27 Oct 2024 · Transfer section 2 (47) in relation to a capital asset includes: (c) Compulsory acquisition of an asset under any law section 2 (47); (d) Conversion of asset into stock-in-trade (STD) by the owner; (e) Any transaction of immovable property under section 53A of the Transfer of Property Act, 1882; (f) Any transaction the membership right is ... four cut sunflowersWeb3 Mar 2024 · The Indian Income Tax Act, 1961 is a comprehensive piece of legislation that governs the taxation of income earned by individuals, companies, and other entities in India. Section 2 (47) of the Act defines the term “transfer,” which is a crucial concept in the calculation of capital gains tax. discord co founder