Gifting a house property in India has implications for both income tax and stamp duty. The stamp duty varies by state, generally ranging from 2% to 7% based on property value. Notably, many states … 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
Home buyers and investors were eagerly waiting for the Budget 2024 announcement. Tax relief and the availability of homes at affordable rates were the two main demands of the buyers. On the other hand, … READ FULL STORY
As soon as finance minister Nirmala Sitharaman announced during the union budget that LTCG (Long Term Capital Gains) would be reduced from 20% to 12.5%, the stock market took a hit. While the immediate … 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
Under the Indian tax law, the profit earned through sale of a property is considered an income. On this income, the seller must pay taxes. However, sellers can lower their tax liability by claiming … READ FULL STORY
Under the Indian income tax (IT) laws, a property owner is liable to pay taxes to the government on its sale, based on the holding period and profit earned (known as capital gains). The … READ FULL STORY
For the sale of an immovable property, generally two types of agreements are made: an agreement for sale and a sale deed or sale agreement. The agreement for sale is required to be stamped … READ FULL STORY
The Budget 2023-24 has capped the deduction from capital gains on investment in residential house under Sections 54 and Section 54F at at Rs 10 crore for better targeting of tax concessions and exemptions. … READ FULL STORY
Starting April 1, 2023, long-term capital gains tax exemption towards buying residential units will be capped at Rs 10 crore, according to the amendments made to Section 54 and 54 F, as announced in … READ FULL STORY
Capital gains refers to any profit received through the sale of a capital asset. The profit received falls under the income category. Thus, a tax must be paid on this income, which is known … READ FULL STORY
The profit earned through the sale of property, attracts tax under the Indian Income Tax Act. However, the owner can significantly lower his outstanding tax liability on the proceeds earned by using indexation. An … READ FULL STORY
Prior to every Union Budget, real estate stakeholders get into a huddle to set the narrative that could influence the fiscal policy. They are conscious of the fact that the business of real estate … READ FULL STORY
