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Articles tagged with
Tax
Know Everything About Income Tax Deduction On Home Loan: Section 80EE
The Income Tax Act of 1961, under Section 80EE, provides criteria that allow taxpayers to claim an additional income tax deduction of up to INR 50,000 on the interest paid on their home loan.
3 years ago
5 min read
What Every Buyer and Seller Needs to know about the Depreciating Value of Property
In this article, we attempt to understand what property depreciation is, what are the factors that impact the rate of depreciation - what can withstand depreciation and how to calculate the rate of depreciation.
5 years ago
8 min read
GST council approves new tax rates for realty sector
The GST Council on Tuesday decided the rules for the implementation of the tax changes decided to be imposed from 1st April 2019.
7 years ago
1 min read
April 2019 brings revised GST Rates for houses in India
In FY2018-19, it was announced that from the coming financial year the GST rates on property purchases would change. The government emphasised significantly on affordable housing and the lower economic classes are to benefit the most.
7 years ago
1 min read
Maharashtra to raise real estate duties for Mumbai development
The Maharashtra State Assembly has passed the bill to further increase stamp duty by 1%, which would be directly contributing to Mumbai's public assets.
7 years ago
1 min read
Capital gains in residential real estate
Within the realm of real estate, when one sells a property at a price higher than the purchase price, he is said to have obtained capital gains. Under Section 54 of the Income Tax Act (1961), capital gains are taxable.
7 years ago
5 min read
Home loan vs personal capital: what to invest when buying a house
there are several factors which might affect your buying pattern and your mode of payment whether through a bank loan or your own pocket.
7 years ago
3 min read
Homebuyers find a way-out from paying hefty GST on under-construction projects
Some developers club with witty homebuyers to show the booking amount as 'loan', which is returned back to them upon construction.
7 years ago
read
ITAT says, home owners having multiple houses can change declared self-occupancy
Under the I-T Act, where an individual owns more than one house, he can only treat any one of his house properties as ‘self-occupied and having a nil annual value’.
8 years ago
1 min read
Property tax Term Meaning in Real Estate - Guide
It is the annual amount paid by a land owner to the local government or municipal corporation of the area
8 years ago
read
Reverse charge mechanism Term Meaning in Real Estate - Guide
Reverse Charge Mechanism (RCM) is a system where the recipient of services pays the service tax
8 years ago
read
Input tax credit Term Meaning in Real Estate - Guide
Input tax credit means reducing the taxes paid on inputs from taxes that one has to pay on output
8 years ago
read
Home loan cannot be an excuse for tax exemption: ITAT
Capital gains are taxable under the Income-tax Act.
8 years ago
1 min read
Wealth tax Term Meaning in Real Estate - Guide
It is a tax on all valuable possessions.
8 years ago
read
Transfer tax Term Meaning in Real Estate - Guide
The tax paid on transferring a property title.
8 years ago
read
Gross Income Term Meaning in Real Estate - Guide
Basic pay is also called as gross income.
8 years ago
read
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