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 Income Tax Act has divided tax entities into various categories. All individuals are taxed under the category of an ‘Individual’. However, if more than one people come together to own a building, they … READ FULL STORY
PAN (Permanent Account Number) Card is a critical document in India for financial transactions and tax purposes. It is equally significant for non-residential Indians (NRIs). This article will discuss the importance of NRI PAN … READ FULL STORY
When expanding businesses in India want to acquire real estate, they have two reliable options: purchasing a mortgage loan or rent-to-purchase. This is also known as a capital or financial lease. But how does … READ FULL STORY
Partial agricultural income, as the name implies, refers to income that extends beyond cultivation activities. As it isn’t solely reliant on cultivation, it diverges from the taxation norms applied to pure agricultural income. In … READ FULL STORY
Filing your income tax return is a methodical process that extends beyond merely determining your annual tax liability and submitting the ITR-V form. This article guides you to download ITR acknowledgement. After diligently calculating … READ FULL STORY
Section 139(9) of the Income Tax Act, 1961, plays a crucial role in ensuring the accuracy and completeness of the information provided by taxpayers in their income tax returns. This section empowers the Income … READ FULL STORY
Taxation is a fundamental aspect of any economy, serving as a primary source of revenue for governments. Two broad categories of taxes exist: direct taxes and indirect taxes. These classifications are based on the … READ FULL STORY
Taxation is the act of levying or imposing a financial obligation upon residents of a country by a taxing authority, most often the government of the country. Understanding taxation Taxation is legally distinct from … READ FULL STORY
There is considerable confusion over the taxes applicable on the sale of an inherited property. While many think that the money received on sale of an inherited house is fully tax exempt, others feel … READ FULL STORY
Rekha Parihar, a non-resident Indian (NRI) from Dubai, had finalised the purchase of a luxury sea-facing apartment in Worli, Mumbai. However, when she surfed the internet to check the credentials of the developer and … READ FULL STORY
