One of the most commonly used legal tool to transfer ownership of property is the gift deed. This is done because it is tax-efficient as compared to other options available. However, one should be … READ FULL STORY
Suppose you are looking at selling your ancestral property or buying a piece of land or an apartment, the first question that will demand an answer is what the value of the property is. … READ FULL STORY
When you invest in a property – be it a flat, an apartment, a villa, second home or even land, it is mandatory that it is registered with the government records. A home buyer … READ FULL STORY
Nidhi Arora, a resident of Mumbai has moved to Bangalore for a year owing to her job. She stays in her father’s apartment and pays him rent too. While Nidhi’s employer offers the HRA … READ FULL STORY
The first budget at the beginning of a 5-year tenure of a government always has expectations. People are hopeful that the government will provide major tax relief. The realty sector is standing steadfast with … 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
From classifying income to figuring out the applicable tax rate, the process of calculating tax can be a complicated and time-consuming task. If your income falls under one of the higher tax brackets, a … READ FULL STORY
Income tax is a direct tax people and businesses have to pay in a financial year. The income tax is calculated based on the tax slab an individual falls. Here are some other interesting … READ FULL STORY
The Income Tax Act 1961 includes Section 27 that mentions deemed ownership in case of property transfer to a spouse and the tax obligations. The section aims to assess an individual’s tax obligation even … READ FULL STORY
When one buys a property, the sale consideration is generally paid for, by way of money. However it is not necessary that the consideration for the transfer of a property, should always involve money. … READ FULL STORY
The Income Tax (I-T) Department on March 4, 2024, said it was in process of sending notices to some taxpayers for income tax returns (ITRs) filed for assessment year (AY) 2021-22 (FY2020-21). Communication will … 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
Leave encashment is a workplace benefit that allows employees to convert their accumulated unused leave into monetary compensation. This practice provides a flexible approach to employee benefits and serves as a financial support system … READ FULL STORY
