Selling a home requires as much due diligence as buying one, to ensure that there are no disputes and to get the proper return on investment. While legal and taxation aspects are the two … READ FULL STORY
Under the Reverse Mortgage Scheme (RMS), a senior citizen can opt to receive an additional source of income on the security of an owned residential house, without having to service it during his lifetime. … READ FULL STORY
There were no major direct announcements related to realty sector, in the Union Budget 2018-19. However, there is an expectation in the market that the efforts made by the government, could boost the real … READ FULL STORY
The rental income from a real estate investment, is taxed under the head ‘Income from House property’ under the income tax laws, which is a direct tax law of the country. Properties that are … READ FULL STORY
Earlier, whatever interest that a borrower paid against a housing loan, was allowed to be completely adjusted from the income, as a deduction. Now, this deduction has been capped to Rs 2 lakhs and … READ FULL STORY
Taxes and duties constitute a large part of the total home buying cost. There are four types of taxes and duties that are levied on the purchase of homes in India – stamp duty, … READ FULL STORY
‘Fools build houses, and wise men live in them’. This British proverb is often used in arguments against buying a house. Investing in a house is a very important decision, as the amount needed … READ FULL STORY
As per the income tax laws, any profit on sale or transfer of your house or land becomes taxable, in the year in which you transfer the same. As per the Transfer of Property … READ FULL STORY
The Union Budget 2017-18 has proposed some provisions, which will boost the affordable housing sector but at the same time, will discourage tax payers from treating real estate as an investment class. One such … READ FULL STORY
Under the present tax laws, a person is taxed on profit from the sale of any immovable asset held as a capital asset, under the head ‘capital gains’. For computing capital gains, the immovable … READ FULL STORY
Reduction in tenure of long-term capital gains Real estate investors, who were looking for a quick exit option to switch their investment or to book profits, were often discouraged by the long-term capital gain … READ FULL STORY
Service tax and VAT are applicable, only on properties that are booked at under-construction stages. So, both these taxes cannot be levied on properties that are purchased, after the builder has obtained its completion … READ FULL STORY
Often people pick booking under-construction properties over ready houses because of their lower rates. However, they do so without realising the risks involved; both, the income tax and financial implications. This feature deals with … READ FULL STORY
