Tag Archives: immovable property

The existing provision of the Act provide for concessional rate of tax and also indexation benefit for taxation of capital gains arising from transfer of long-term capital asset. To qualify for long-term asset, an assessee is required to hold the asset for more than 36 months subject to certain exceptions, …

Section 80C of the Income Tax Act, 1961 deals with deductions in respect of certain payments during the previous year from the total income of an Individual or HUF subject to a maximum of Rs.150000. Instalment payment towards the property loan or repayment of housing loan is one of the …

Any income from letting property is taxable as income in the hands of the owner of the property. I have listed out a couple of points which may give you a fair idea about taxation of such income.   A Self-occupied property: When property is occupied by the owner for …

Stamp duty and registration fee is one of the revenue generating machines of state governments! One has to pay fee for registering any document, be it marriage, company, property or birth or death! Most of us are not aware about the quantum of money to be paid towards registration. This …

Section 194 IA: Payment on transfer of certain Immovable Property other than Agricultural Land (with effect from 01.06.2013) Vide BUDGET 2013, read with Notification No.39/2013 dated 31st May, 2013, a new Section 194-IA was inserted to Income Tax Act, 1961 in the case of transfer of immovable property (situated in India or abroad/commercial or …