Category: Real Estate

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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Tax on Advance forfeited on Property – Section 56(2)(ix)

The Finance Act 2014 which was presented by Arun Jaitley has brought in several amendments one of which is Section 56(2)(ix) which deals with tax treatment of advance forfeited on the sale of property. Section 56(2)(ix) – Advance Forfeited on...

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Tax on Sale of Property in India:- Guide to All Taxes

At the time of any real estate transaction, there are several taxes on sale of property. Some of these taxes on sale of property are to be borne by the Buyer and some are borne by the Seller. Moreover, there...

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