CA Nikita Jain

Profit of Rs 26 crore profit but still it can be tax free?

She sold listed equity shares worth Rs 26 crore. She constructed a new residential house.
And she paid ZERO capital gains tax. 100% legally.

ITAT Kolkata allowed full exemption under Section 54F of the Income Tax Act.

Here is what makes this case interesting and important that every individual must know
• Joint ownership does not automatically disqualify you
• Vacant land is not treated as a residential house
• Construction can start before sale of shares
• Completion within 3 years is what matters
• Direct use of the same sale money is not mandatory

This judgement clarifies key rules of Section 54F capital gains exemption.

If you sell shares, mutual funds, gold, or any long term asset except a residential house, this section can legally save you huge tax.

But conditions must be followed carefully.

Most investors either misunderstand Section 54F or ignore technical details.
One mistake can cancel the exemption.

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1 week ago | [YT] | 1

CA Nikita Jain

Paying rent to your parents to save tax? The Income Tax office make it alert deduction 🚨

Here's What’s Changing from April 1, 2026:

1. Mandatory Disclosure: If you pay rent to a relative (parents, spouse, siblings), you now must disclose your relationship with the landlord.

2. PAN Requirement: HRA claims will require your landlord’s PAN along with rent receipts.

3. New Forms: The old HRA declaration is being replaced by a new form that captures these details.

4. No More Paper Rents: Paying “fake rent” to relatives just to save tax is now visible to authorities.

5. Bank Transfers Only: HRA claims must be backed by proper bank transactions, not cash.

Who should care?

—For genuine renters: Nothing changes if your rent is genuine and documented.

—For family arrangements: Tax authorities can now track HRA claims more strictly.

HRA is still a valuable benefit, but the process is now more structured. Following the rules will save you unnecessary trouble.

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1 week ago | [YT] | 1

CA Nikita Jain

📣 Big tax relief on the horizon for India's middle class in Budget 2026?

An expert panel recommends applying the 30% income tax slab only to incomes above ₹30 lakh—raising the threshold from current lower levels.

If adopted:
- Middle-class families gain major tax savings
- More money stays in your pocket for spending/growth
- High rates target only true high earners

Key caveat: This is just a suggestion, not confirmed law yet. Govt decides final call.

Budget 2026 heating up! What do you think—game-changer or tweak?
Drop views below! 👇

#Budget2026 #TaxRelief #financetips #budget #nirmalasitaraman #financeminister

Follow ‪@canikitajain‬ for daily finance updates.

4 weeks ago | [YT] | 1

CA Nikita Jain

As per new Income Tax Act, 2025 financial year will now be termed as?

1 month ago | [YT] | 0

CA Nikita Jain

GST late fees waiver for GSTR-9C✅

Follow for more ‪@canikitajain‬

[GST laws, GST rules, GST notification, GST amendment, GST Waiver scheme]

#gstlaws #gstamendments #gstscheme #gstnotification #gstupdate #follow #youtube #youtubepost #trending #foryou

1 year ago | [YT] | 1

CA Nikita Jain

What is the last date of claiming ITC (input tax credit) for the financial year 2023-24?



#gst #gstduedates #gstupdates #timelimit

1 year ago | [YT] | 0

CA Nikita Jain

Direct Tax Vivad Se Vishwas: A scheme to settle pending tax disputes and get a fresh start!

Key benefits:

· Waiver of interest and penalty
· No further proceedings or inquiry
· Relief from prosecution
· Reduced litigation stress

Don’t miss this opportunity to resolve your tax disputes and move forward with confidence!

#DirectTaxVivadSeVishwas #TaxDisputeResolution #FreshStart #TaxCompliance #TaxRelief #TaxPayersRejoice”

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1 year ago | [YT] | 1

CA Nikita Jain

Let the mountains and valleys of Manali steal your heart 🩵✨


Swipe left for the beauty 💟


#communitypost #youtubepost #manali #vacation #snowfall #shimla

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2 years ago | [YT] | 5