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Income Tax

When IT return filling is must by Individual and HUF

By S T L R & Co 23 Jun 2026 1 min read

Return Filing is Compulsory Even if Income is Below Taxable Limit An Individual or HUF must furnish a return of income if any one of the following conditions is satisfied during the tax year: Sr....

Income Tax

Cash payment Limit as per NEW Income Tax Act

By S T L R & Co 23 Jun 2026 4 min read

Cash Expenditure Limits Under the Income Tax Act, 2025 (Replacing the Income Tax Act, 1961 — Effective from New Framework)   1.  Business Expenses — Section 36(3) Formerly: Sec...

Income Tax

Capital Gain exemption for non residential assets invested in residential property

By S T L R & Co 05 Jun 2026 2 min read

Section 86 of the Income-tax Act, 2025 corresponds to section 54F of the Income-tax Act, 1961 and provides exemption from long-term capital gains when the sale proceeds of a non-residential long-term...

Income Tax

Capital Gain exemption on Sale of House Property Used for Residence (IT Act, 2025)

By S T L R & Co 04 Jun 2026 3 min read

Section 82 — Profit on Sale of House Property Property Used for Residence (IT Act, 2025) Equivalent to: Section 54 of the Income Tax Act, 1961 Chapter: IV (Capital Gains) Effective from: 1 April...

Income Tax

New Income tax section for Partnership Deed and LLP as per Income Tax Act,2025

By S T L R & Co 27 May 2026 1 min read

New Income tax section for Partnership Deed and LLP  Section 35(e) — Partner Remuneration & Interest (Replaces Section 40(b) of the old Act) Section Matter 35(e)(iii) Remune...

Income Tax

Income tax implication on Right issue @ Face value even though book value is much higher

By S T L R & Co 27 May 2026 3 min read

Many private limited companies issue shares to existing shareholders through a rights issue at face value. A common question is: If the market value of shares is much higher than the issue price, can...

Income Tax

Taxation o f Immovable Property Under the New Income-tax Act, 2025 for transfer below Stamp duty value

By S T L R & Co 26 May 2026 3 min read

Taxation of Immovable Property Under the New Income-tax Act, 2025 Understanding Section 78 (Old 50C) and Section 92(2)(m) (Old 56(2)(x)) The new Income-tax Act, 2025 has reorganized and renumbered sev...

Income Tax

Specified Development Agreement — Income-tax Act, 2025

By S T L R & Co 26 May 2026 4 min read

What is a "Specified Agreement"? A "specified agreement" means a registered agreement in which a person owning land or building, or both, agrees to allow another person to develop a real estate projec...

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