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 property is a preferred investment option in India. A property can be owned solely by an individual or co-owned by two or more individuals. People often prefer to purchase a property with … READ FULL STORY
For an increasing number of Indians, especially young working professionals, buying a property is becoming a preferred investment option. Real estate purchases provide various tax advantages to buyers. At the same time, there are … READ FULL STORY
Marriagะต doะตsnโt ะตrasะต lะตgal boundariะตs whะตn it comะตs to financial and propะตrty ownะตrship. A common quะตstion among couplะตsโparticularly thosะต ะตngagะตd in tax planning, succะตssion managะตmะตnt, or financial indะตpะตndะตncะตโis whะตthะตr a husband can lะตgally sะตll … READ FULL STORY
When investing in property, individuals are required to pay taxes. However, the property sector also offers tax deduction benefits that can be advantageous to many. For example, while individuals can take advantage of home … READ FULL STORY
Effective April 1, 2020, the Finance Act, 2019 added the Seventh Proviso to Section 139(1) of Income Tax (I-T) Act, 1961. Under this act, some certain individuals have to necessarily file the Income Tax … READ FULL STORY
When it comes to managing rental income, property owners in India must navigate the complexities of tax regulations, particularly the Tax Deducted at Source (TDS) under Section 194I of the Income Tax Act. This … READ FULL STORY
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
Urban Agriculture Land in India has been a topic of interest for many, especially with the recent changes in the Income Tax Rules. This article aims to shed light on the topic, helping the … 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
In India, agriculture plays a pivotal role in the economy, and recognising its significance, the Indian constitution incorporates various provisions aimed at facilitating tax savings on the sale of agricultural land. The Income Tax … READ FULL STORY
The Income Tax Act (ITA) of 1961 is a comprehensive legislation in India that imposes taxes on the income of individuals, encompassing not only high-earning professionals and businesses but also individuals in various roles, … READ FULL STORY
In India, income tax is a direct tax levied by the government on the income earned by individuals or entities in a particular financial year. The tax is calculated based on the income tax … READ FULL STORY
