Income Tax liabilities of owners of land/building on executing Development Agreement.
By K. K. Ramani (Advocate) The taxation of stakeholders in development of land or building carried out through the builders,…
ITAT: Cash payment for improving the flat is allowed
By Fiona Mehta The Income Tax Appellate Tribunal (ITAT)’s Mumbai bench, in a tax litigation over capital gains arising…
Clarification in respect of residency under section 6 of the Income-tax Act, 1961
By SRELJ Bureau Section 6 of the Income-tax Act, 1961 (the Act) contains provisions relating to residency of a person.…
80IB is applicable on entire project: ITAT Mumbai
By SRELJ Bureau Clause (d) inserted in section 801B[10) with effect from April 1, 2005, is prospective and not retrospective…
Applicability of Chapter XXC of Income Tax to Housing Society, Additional FSI & TDR
By Vimal C. Punmiya, Chartered Accountant 1. Before delving into the applicability of provisions of Chapter XXC and Taxability of…
No Capital Gain Tax On Society Redevelopment
By Legal Bureau Kushal K. Bangia vs. ITO (ITAT Mumbai) – In principle, though the scope of “income” in s.…
Non-Occupancy charges received by Housing society not taxable
By Legal Bureau Assessee has challenged the addition of Rs.30,914/- made by the Assessing Officer on account of non-occupancy charges…
No Capital Gain Tax On Housing Society Redevelopment
By Legal Bureau Kushal K. Bangia vs. ITO (ITAT Mumbai) – In principle, though the scope of “income” in s.…
Consideration for permission to use TDR / FSI not chargeable to tax: ITAT Mumbai
By Legal Bureau The assessee co-op housing society gave permission to a developer to construct 2 floors and 8 flats…
Taxability of the transfer fees in Society
By Vimal Punmiya, Chartered Accountant The importance of society has been increased from last 25 years ever since there has been…