What is a benami property?
A ‘benami’ property is one that is purchased in the name of a person, who is not the real beneficiary. The person, in whose name the property is purchased, is known as a ‘benamidar’. … READ FULL STORY
Legal
Tag: Income Tax Act
Taxation
Section 194J: All you must know
To better collect taxes, the deduction of tax at source, also known as TDS, has proven to be a valuable tool. The stress of paying taxes and submitting income tax returns is lightened for … READ FULL STORY
Taxation
3 ways in which filing a ‘Nil ITR’ helps you
The due date for filing income tax return (ITR) for FY 2021-22 is July 31, 2022. Those earning up to Rs 2.50 lakh in a financial year are not liable to file an income … READ FULL STORY
Taxation
e tax payment: Everything you need to know
With the evolving technology and Digital India Movement, the income tax department has shifted its analog tax payment system to digital. Through the e payment system, individuals can pay their taxes online using savings … READ FULL STORY
Taxation
Advance tax payment: Your guide to advance tax and advance tax payment online
Advance tax payment is a monetary liability that individuals and companies in India, that earn a specific type of income, must fulfil. This guide explains advance tax and related aspects. We also discuss the … READ FULL STORY
NRI
Laws governing inheritance of immovable property in India by NRIs
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
Taxation
Difference between financial year and assessment year
To file taxes in India, taxpayers must have a clear understanding of the difference between a financial year and an assessment year. This guide will help you learn that. What is a financial … READ FULL STORY
Must Knows
Tax on commercial property: Tax on capital gains, rent and more explained
Property has been one of the oldest investment avenues in India, which existed before the advent of various financial products like direct equity and mutual funds. If you have given commercial space for rent, … READ FULL STORY
Must Knows
Income tax calculator: Know how to calculate income tax for the financial year
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
Rent
Tax precautions while paying rent to close relatives
Suppose you live with a family member and receive HRA as part of your salary package. Did you know that there is a way to save taxes, in case you pay rent to the … READ FULL STORY
Must Knows
Taxation of profits from the sale of assets used in business and exemptions on such profits
Like all sorts of income, profits made by way of business activities are taxed under the income tax laws in India. As is true of all incomes, the tax payer also enjoys a variety … READ FULL STORY
Budget 2022
Budget 2021: Extension of ‘safe harbour’ limit to benefit buyers, inventory-hit builders
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
Property Trends
Budget 2021: Industry welcomes expansionary budget, hails pragmatic approach
The market has welcomed the host of announcements in Budget 2021 that are being seen as a measure to revive the economy. From health to infrastructure, finance minister Nirmala Sitharaman’s third Budget speech tackled … READ FULL STORY
