While buyers have to pay a one-time amount to become the owner of a property, they have to consistently pay smaller amounts in the form of property tax, to maintain their ownership over … READ FULL STORY
During a marriage, assets transferred from one spouse to another do not attract income tax implications because such a transfer is considered a gift. Such gifting is exempted from income tax implications under the … READ FULL STORY
The Supreme Court has upheld the order of the Bombay High Court (HC), in which the HC had quashed the rules framed by the Municipal Corporation of Greater Mumbai (MCGM) for levying property taxes. … READ FULL STORY
The government is considering changes in the capital gains tax regime in order to make it simpler. The changes proposed in the regime are from the direct tax task force report of 2019. Among the proposed … READ FULL STORY
Businesses in today’s era of fierce competition have diversified to survive. Nowadays, businesses not only cater to one market but rather provide a wide selection of products and solutions under many labels. In this … READ FULL STORY
Land as an investment option has always been popular in India. Its popularity has not receded, despite the availability of various financial products such as mutual funds and equity shares. However, you should be … READ FULL STORY
The indirect tax imposed on the provision of goods and services is known as the Goods and Services Tax or GST. With effect from July 1, 2017, GST replaced all indirect taxes in India … READ FULL STORY
Taxes like value-added tax (VAT) or goods and services tax in some countries are assessed incrementally. At every stage of production, distribution, or sale to the consumer, it is incorporated into the price of … READ FULL STORY
The order by the Karnataka AAR follows a circular issued by the Central Board of Indirect Taxes and Customs (CBIC) on August 3, 2022, which said plot sale does not attract GST even if … READ FULL STORY
Those planning to invest in agricultural land often find themselves in the crosshairs of regulatory requirements and personal whims of the sellers. On the one hand, they are obliged to make any payments exceeding … READ FULL STORY
If you have taken a home loan, you can avail of rebates on your income tax liability under various sections of the Income Tax Act in India. An income tax rebate is allowed on … READ FULL STORY
Under India’s income tax law, deductions are allowed on interest payments of education loans under the provisions of Section 80E. This guide will elaborate on the various aspects of this section and its benefits. … READ FULL STORY
To better collect taxes, the deduction of tax at source, also known as TDS, has proven to be a valuable tool. The stress of paying taxes and submitting income tax returns is lightened for … READ FULL STORY
