Status of joint owner for tax purposes The Income Tax Act has divided the tax entities into various categories. All individuals are taxed under the category of an ‘Individual’. However, if more than one … READ FULL STORY
As is true of any income, landlords in India also have to pay taxes on their rental income. If proper planning is not put in place, a large part of your rental income could … READ FULL STORY
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. People who invest in commercial properties, do so … READ FULL STORY
Acquisition of immovable property by a minor A minor can acquire an immovable in various ways. He can acquire it by way of inheritance, either through a will or through the intestate succession law … READ FULL STORY
The income tax laws tax all your incomes under various heads. Any income with respect to a house property owned by you, is taxed under the head ‘income from house property’, whether the property … 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
In addition to raising the income tax exemption limit for individuals from Rs 2.5 lakhs to Rs five lakhs, finance minister Piyush Goyal also raised the standard deduction to Rs 50,000 and provided concessions … READ FULL STORY
There were no major direct announcements related to realty sector, in the Union Budget 2018-19. However, there is an expectation in the market that the efforts made by the government, could boost the real … READ FULL STORY
“In order to provide relief to salaried taxpayers, I propose to allow a standard deduction of Rs 40,000, in lieu of the present exemption in respect of transport allowance and reimbursement of miscellaneous medical … READ FULL STORY
