Marriagе doеsn’t еrasе lеgal boundariеs whеn it comеs to financial and propеrty ownеrship. A common quеstion among couplеs—particularly thosе еngagеd in tax planning, succеssion managеmеnt, or financial indеpеndеncе—is whеthеr a husband can lеgally sеll … READ FULL STORY
Sеlling propеrty in India is not just a financial transaction but also a lеgal procеss with clеarly dеfinеd rights and rеsponsibilitiеs for thе sеllеr. Whilе most discussions focus on buyеr protеction, it is еqually … READ FULL STORY
Acquiring property stands as a significant milestone in a person’s life. However, it also entails various tax obligations during the buying and selling processes. To avoid potential legal complications, charges and penalties, it’s crucial … READ FULL STORY
Are you looking for ways to save taxes for the capital gains? Reinvestment of the capital gains from the sale of a property is one way. Alternatively, you can also invest in the capital … READ FULL STORY
The proceeds derived from the sale of agricultural land in India generally benefit from tax exemptions. Nevertheless, specific conditions govern these exemptions, taking into account factors such as the land’s location, current usage, ownership … READ FULL STORY
Under the Indian tax law, the profit earned through sale of a property is considered an income. On this income, the seller must pay taxes. However, sellers can lower their tax liability by claiming … READ FULL STORY
Property owners in India have to pay capital gains tax on sale of property. The logic behind the capital gains tax on sale of residential property — the sale of property typically results in … READ FULL STORY
The Budget 2023-24 has capped the deduction from capital gains on investment in residential house under Sections 54 and Section 54F at at Rs 10 crore for better targeting of tax concessions and exemptions. … READ FULL STORY
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented ‘Amrit Kaal’s’ first Union Budget before the Parliament on Wednesday, the 1st of February. The union budget for 2023 is expected to … READ FULL STORY
The Central Board of Direct Taxes has extended the investment cut-off date to save on capital gains tax to March 31, 2023, a move that will help owners who have recently sold their immovable … READ FULL STORY
Laws governing property ownership by non-residents in India are not only different from the laws governing residents, they are also quite complicated. Even though there is a wide range of assets that NRIs can own … READ FULL STORY
A person is taxed on the income earned by him. This income may be active income, in the form of salaries or income from business. It may also be passive income, like capital gains … READ FULL STORY
To calculate the income tax, there is no need to visit a chartered accountant. The facility to calculate the income tax has been made available online by the Income Tax Department, through its online … READ FULL STORY
