Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
← back
Informative
Amendment to Section 47: New Rules for Capital Gains Tax on Gifts w.e.f 1st April 2025
Update / Judgement Date
26 Jul 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Corporate Law & GovernanceIncome Tax
The amendment to Section 47 of the Income-tax Act, effective April 1, 2025, clarifies that capital gains tax will not apply to transfers of capital assets under a gift, will, or irrevocable trust by individuals or Hindu Undivided Families (HUFs). This change addresses tax avoidance and strengthens anti-avoidance measures by explicitly excluding corporate entities from this exemption. This move aims to reduce litigation and protect the tax base.
