Real Estate Mumbai
Wife Avoids Income Tax After Selling Two Mumbai Properties for Rs 6 Crore
A wife in Mumbai managed to avoid income tax after selling two properties for Rs 6 crore by leveraging Section 54 benefits and reinvesting the proceeds.
Real Estate Mumbai
Husband and Wife Duo Triumphs in Rs 1.3 Crore LTCG Tax Exemption Case
A husband and wife duo from Mumbai successfully won a Rs 1.3 crore long-term capital gains tax exemption case under Section 54 after purchasing a new property in joint names. Discover the key details and implications of this landmark decision.
real estate news
Delhi High Court Rejects Widow's Tax Exemption Claim for Purchasing Two Flats
The Delhi High Court has denied a widow's claim for capital gains tax exemption under Section 54F of the Income Tax Act, as she had purchased two non-adjacent flats in Noida using the proceeds from the sale of a plot inherited from her husband.
Real Estate
Clarifying Capital Gains in Real Estate: Simplifying Acquisition and Reinvestment Dates
The author suggests that the Finance Minister consider adding a clarification to treat the date of possession as the date of acquisition for under-construction properties under Sections 54 and 54F to ease litigation and provide clarity to taxpayers.