Man sells ancestral agricultural land for Rs 8 crore, buys two properties and claims LTCG exemption; faces Rs 6.36 crore tax additions, why ITAT Chandigarh gave relief under Sections 54B and 54F

The ITAT Chandigarh eventually ruled substantially in the man’s favour on both questions. (Image for representative purpose only) When selling assets and claiming long-term capital gains, it is important to understand if you are eligible and under what conditions can you claim LTCG.A man sold his family’s ancestral agricultural land and claimed long-term capital gains…

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Stock Market Today Live Updates: BSE Sensex opens over 400 points higher, NSE Nifty50 jumps above 22,550 mark

Outlook for the Dalal Street is set to be shaped by monetary policy, corporate earnings, crude oil prices, global bond yields and foreign investor activity. The RBI’s interest rate decision will be a key domestic cue, with its stance, inflation outlook and growth forecasts likely to guide expectations on interest rates and financial markets. The…

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Honda Motorcycle And Scooter India: HMSI flags pressure from rising costs

Honda Motorcycle & Scooter India (HMSI) logo NEW DELHI: Honda Motorcycle and Scooter India (HMSI) expects a stronger festive season than last year, but rising material costs are putting pressure on profitability, president and CEO Tsutsumu Otani told TOI.The company is seeing growth alongside an expanding motorcycle market, with dealers anticipating robust festive demand. However,…

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Next-Generation Gst: Next-generation GST aimed at boosting India’s next phase of growth

File photo: Union finance minister Nirmala Sitharaman (Picture credit: PTI) India’s ambition to become a Viksit Bharat requires an economy in which enterprises of every size can grow, wherever they begin. Over the past 12 years, our govt has worked to create those conditions. GST’s introduction in 2017 established a common national framework for indirect…

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GST Council meeting on October 7: Arrest powers, ITC, prosecution threshold proposals on agenda – report

GST Council likely to consider proposals on arrest powers, ITC, prosecution threshold and more The GST Council may consider a package of GST process and enforcement reforms at its October 7 meeting, including a proposal to take away the power of tax officers to arrest taxpayers and require judicial authorisation for any arrest.The Council may…

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