Renting out a property to a tenant allows the owner to earn a monthly rent. Under the income tax laws in India, this rent is counted as income and the landlord is liable to … READ FULL STORY
Buying a home is one of the most difficult things to achieve. It is not practically possible for everyone to buy a property by paying upfront. This is where home loan plays an incredibly … READ FULL STORY
Under the income tax laws in India, a taxpayer’s rental income is a part of their total gross income. Therefore, those earning an income through a house property are liable to report this to … READ FULL STORY
A house property is a crucial aspect of real estate in India. Any building or land owned by an individual can be considered a house property and is taxable under the income tax laws … READ FULL STORY
Income in India is divided into different parts for simplification of taxation. Section 14 of the Income Tax Act clarifies the types of income in India. Types of income under Section 14 of … READ FULL STORY
The income tax laws tax all your incomes under various heads. Any income with respect to a house property owned by you, is taxed under the head ‘income from house property’, whether the property … READ FULL STORY
Under the income tax law in India, your property has the potential to earn a certain income in a year. On this income, you are required to pay taxes. The income tax department taxes … READ FULL STORY
As India is basically an agrarian economy, several incentives and perks are offered to those making a living through agriculture, known as agricultural income. Farmers are, for example, exempted from paying any tax on … READ FULL STORY
Joint owners of a property will be liable to pay equal amount of tax on the income made from house property if the registered sale deed does not clearly qualify their share in the … 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
Under Indian laws, property ownership has tax implications, since every immovable asset has the potential to generate a certain annual income for the landlord, if it’s not self-occupied. Interestingly, the tax liability would arise … READ FULL STORY
While India’s real estate sector did not get the special treatment it expected from the Union Budget 2021-22, some relief did come its way, in the form of an extension of the safe harbour … READ FULL STORY
In a separate article we have discussed the provisions of tax deduction at source on payments being made to residents with respect to rental and sale transactions of property. For a resident Indian, who … READ FULL STORY
