The Union Budget, presented on February 1, 2020, has attempted to give certain reliefs to developers and home buyers. It also attempts to introduce some provisions, to minimise unnecessary litigation between tax payers and … READ FULL STORY
Buying a property is not just about paying the money and taking possession of the unit. The process and the documentation involved in the transaction, is complicated and is often beyond the comprehension of … READ FULL STORY
A holding period of 24 months is crucial for a person to be able to claim tax benefits associated with long-term capital gains on property sale. Long-term capital gains give a property seller the … READ FULL STORY
Due to the paucity of available accommodation and in order to attract the talent pool, many employers provide free accommodation or accommodation at concessional rent, to their employees. This is particularly true, in case … READ FULL STORY
Update on February 1, 2019: The exemption for TDS on house rent increased from Rs 1.8 lakhs to Rs 2.40 lakhs. There will also be an exemption on the notional rent of second homes which are … READ FULL STORY
Presently, less than 4% of the entire population of India files its income tax return (ITR). Consequently, successive governments have been introducing various measures, to enhance the tax payers’ base. Finance minister Nirmala Sitharaman, … READ FULL STORY
A number of home owners, who have invested in properties located in the suburbs, prefer to themselves live on rent. Consequently, they put their own house or apartment on rent. Such people let out … READ FULL STORY
Owning a home is a dream for many and being able to buy a home early in one’s career, can give you lots of joy. Experts point out that very few youngsters take the … READ FULL STORY
There are a number of income tax provisions, which link the benefits with the time taken to complete the construction of one’s property. Deductions pertaining to repayment of the principal component of a housing … READ FULL STORY
While the ratio of working males in India is higher in comparison to women, yet, a recent report (Bankbazaar-Moneymood 2019) indicates that when it comes to taking a home loan, women borrowers have outpaced … READ FULL STORY
Capital gains under the income tax laws, are computed by deducting the cost of acquisition of the property from sale consideration of the same. Depending on the holding period of the property, one is … READ FULL STORY
Disputes, settlements and arrangements within a family over property, have been a part of human civilisation. The war of Mahabharat happened due to a family dispute over property, which could not be resolved by … READ FULL STORY
The income tax laws provide various heads of income, for taxation, depending on the nature of activities carried out by you. One particular income may be taxed under the head ‘Profits and Gains of … READ FULL STORY
