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
India’s hardworking middle class will not have to pay any tax if their annual income is up to Rs 7.5 lakh, the Union Budget 2024-25 has proposed under the new tax regime prescribed as … READ FULL STORY
The rent that the owner generates is considered as income under the existing laws in India. Consequently, one earning such income, the landlord is liable to pay tax on rental income in India. All … READ FULL STORY
The Budget 2023-24 has extended the benefit of standard deduction on salary under Section 16 of the Income Tax Act, 1961, to those taxpayers who opt for the new tax regime offered under Section … 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
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. If you have given commercial space for rent, … 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
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
