Category: Real Estate

Tax Benefit on Home Loan: Section 24, 80EEA & 80C

The repayment of Home Loan comprises of 2 components i.e. Repayment of Principal and Repayment of Interest. As the repayment comprises of 2 different components, the tax benefit on home loan is governed by different sections of the Income Tax Act...

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Section 54, 54EC, 54F: Exemption from Long Term Capital Gains Tax

At the time of sale of any Long Term Capital Asset, the Gains are usually very large and are taxed @ 20%. The Resultant Figure to be paid as Tax usually comes out to be a very large amount liable...

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Should you purchase Capital Gain Bonds of NHAI & REC to save Tax?

The Gains that arise on the sale of a Long Term Capital Asset are known as Long Term Capital Gains and Capital Gains Tax is levied on such gains. However, such tax can be saved if this amount is invested...

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Cost Inflation Index for 2016 and last 30 years: Updated

Cost Inflation Index (CII) is an Index which finds its utility in the income tax act at the time of computation of Long Term Capital Gains to be disclosed in the Income Tax Return. The Cost Inflation Index is issued...

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Tax on Sale of Agricultural Land & Section 54B Exemption

Agricultural Land is a land on which agricultural activities are carried out. This article focuses on the tax which would be levied on the capital gains arising on the sale of agricultural land in India. An agricultural land may either...

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Affordable Housing: Reality or just a Utopia?

Ever since the Modi government announced the ‘Housing for All by 2022’ mission, affordable housing has managed to grab eyeballs from the industry stakeholders. With global economic meltdown, it won’t be appropriate to say that Indian property market has remain...

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Guide to Non-Residents Property Investment in India

Indian property market has always been lucrative for non-residents. However, there are certain norms and restrictions that these individuals need to follow. Non-residents could be broadly classified into: Non-Resident Indian (NRI): A person who is a citizen of India and...

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Inheritance Tax in India & other Taxes on Ancestral Property

Inheritance Tax (also referred to as Estate Tax) is a tax which is levied at the time of inheriting any asset. Inheritance Tax is not levied in India as any amount received under a Will or by way of inheritance...

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Service Tax on Rent payable @15% from 15th Nov 2015

In the past few years, there has been much confusion regarding the applicability of Service Tax on Rent. The Govt’s stand was different to what the Courts had to say regarding the applicability of Service Tax on Rent which lead...

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Rent Free Accommodation: Computation & Taxability

Employers usually provide several facilities to their employees one of which is Accommodation for Residence of the Employee. Sometimes, this accommodation is given to the employee without any charge and in some cases a nominal rent is received from the...

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