The financial year is almost coming to a close and you would be busy making your investments for tax saving purposes. Here, we present before you a set of 10 property checks for taxation that you should be watchful of while filing your returns. Principal paid on Housing Loan repayment The Government of India encourages … Read more
Have you got the details of Tax Deducted at Source on the real estate transactions? If not, read on…… Government is well aware of the fact that TDS is a sure way of getting revenue to the government exchequer at the earliest occasion of a transaction. That is why after section 194-1 of Income tax … Read more
Do you want to minimize the tax liability on your real estate transaction? If so, this article is for you. We will be going in detail about how you can save capital gains tax that arise from sale of property. Some people think that tax liability is a hard nut in real estate investments. But … Read more
Investment in real estate is an almost sure way of making money!! Property is an asset which almost always appreciates. It is now an important part of an investor’s portfolio. As a matter of fact, buying property for investment and disposing it of later at a higher price has, no doubt, become very common among … Read more
Are you planning to buy a property from NRI? While purchasing a property from Non-Resident Indian, the rules are different. In such cases, tax has to be deducted before making the payment to the seller which is commonly referred to as TDS (tax deducted at source). It is section 195 of Income tax act, 1961 … Read more
A new section has been introduced in Indian Income Tax Act with effect from June 1st 2013 regarding the deduction of Income Tax at source with respect to purchase of immovable property. The new section deals with situations that involve The purchase of immovable property Sale value is more than Rs. 50 lakhs Money is … Read more
Any transfer of an immovable property will now invite a tax deduction at source of one per cent on the value of the transfer if it is Rs. 50 lakh or more, according to the provisions of the Union Budget 2013, which has come into force with effect from June 1, 2013. Cess and surcharge … Read more