A sale deed is a legal document that proves that a property has been transferred from the seller to the buyer. A sale deed acts as the main legal document, confirming the sale and … READ FULL STORY
Selling a property, especially in India, can bring significant financial gains and tax liabilities. When reinvested wisely, the capital from property sales can help avoid tax implications and grow wealth over time. This guide … 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
Property owners in India have to pay capital gains tax on sale of property. The logic behind the capital gains tax on sale of residential property — the sale of property typically results in … 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
In a move that may come as a setback for real estate investments, the government has proposed capping the deduction from capital gains on investment in residential house under Sections 54 and 54F at … READ FULL STORY
The Central Board of Direct Taxes has extended the investment cut-off date to save on capital gains tax to March 31, 2023, a move that will help owners who have recently sold their immovable … READ FULL STORY
Property gifted to mother for a negligible amount of Rs 5 lakh would not amount to as gifting, the Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) has ruled. In its order dated … READ FULL STORY
Capital gain refers to the profit that one earns through the sale of a capital asset, such as real estate, or even stocks or bonds. It is the difference between the selling price of … READ FULL STORY
The income tax laws give various options to the tax payers, to save the tax liability arising from the sale/transfer of long-term capital gains, if certain investments are made. Section 54 exempts long-term capital … READ FULL STORY
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
The profits arising from the sale of a residential house property, which has a holding period of more than 24 months, are termed as long-term capital gains and are taxed at the rate of … 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
