Under Section 194-IA of the income tax law, property buyers in India are obliged to deduct tax at source (TDS) if the property value is more than Rs 50 lakh. On property deals worth … READ FULL STORY
In the Indian financial landscape, PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are two crucial identification numbers issued by the Income Tax Department. While both are alphanumeric codes, they … READ FULL STORY
As housing societies are not apparently engaged in any income earning activities, there is a perception that they are not required to comply with any income tax provisions. This impression is heightened by the … READ FULL STORY
With rapid computerisation, an individual’s PAN (Permanent Account Number) has become an important document, for many financial and non-financial transactions. It is equally important for buying or selling properties or leasing it out. For … READ FULL STORY
With the government of India hinting at its intention to link Aadhaar numbers with property transactions, several analysts have hailed the proposed move as a game-changer, while others have questioned its intent, its chances … READ FULL STORY
