Property Tax

The Lok Sabha on Wednesday passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate.

The government's decision to allow taxpayers to pick between two long-term property transactions has brought cheers to the real estate industry, with experts saying that this move will have a very profound impact on both homeowners and homebuyers.

Nirmala Sitharaman today said the contentious LTCG tax proposal on real estate is being amended to give option to taxpayers to compute tax liability under the old system or at reduced rates without indexation, and pay the lower of the two.

The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.

The cost of acquisition of real estate properties purchased before 2001 will be the fair market value (FMV, not exceeding the stamp duty value) as of April 1, 2001, or the actual cost of the land or building for the purpose of calculation of LTCG.

The government on Tuesday proposed reducing the long-term capital gains (LTCG) tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers

Budget 2024: The government will look at further lowering duties for properties purchased by women and making it an essential component of urban development schemes, Finance Minister Nirmala Sitharaman said on Tuesday.

There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies.

For traders in Mumbai, not putting up signboards in Marathi is going to prove costly. The Mumbai civic body has doubled the property tax for people violating the Marathi signage rule, relaxing its earlier rule that legal action would be taken against

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25.

Susan Hodgson is struggling to come to terms with what happened. She can't understand how such a mistake could be made.

Income Tax officials are said to have recovered a huge cache of money stashed in several boxes during searches at properties belonging to a city-based contractor, official sources said on Friday.

Newly constructed flats and a building complex in Varanasi and bank deposits worth about Rs 50 crore have been attached under the anti-benami properties law by the Income Tax department as part of its probe.

Chief Minister YS Jagan Mohan Reddy instructed officials to exempt Gurdwaras from property tax and also to provide benefits for Granthis (Priest for a Gurudwara).

Jim Carrey, Britney Spears and Kylie Jenner are among the celebrities who have put their sprawling properties on the market in recent months.

The Lok Sabha on Wednesday passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate.

The government's decision to allow taxpayers to pick between two long-term property transactions has brought cheers to the real estate industry, with experts saying that this move will have a very profound impact on both homeowners and homebuyers.

Nirmala Sitharaman today said the contentious LTCG tax proposal on real estate is being amended to give option to taxpayers to compute tax liability under the old system or at reduced rates without indexation, and pay the lower of the two.

The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.

The cost of acquisition of real estate properties purchased before 2001 will be the fair market value (FMV, not exceeding the stamp duty value) as of April 1, 2001, or the actual cost of the land or building for the purpose of calculation of LTCG.

The government on Tuesday proposed reducing the long-term capital gains (LTCG) tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers

Budget 2024: The government will look at further lowering duties for properties purchased by women and making it an essential component of urban development schemes, Finance Minister Nirmala Sitharaman said on Tuesday.

There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies.

For traders in Mumbai, not putting up signboards in Marathi is going to prove costly. The Mumbai civic body has doubled the property tax for people violating the Marathi signage rule, relaxing its earlier rule that legal action would be taken against

The Karnataka government will embark on an ambitious project of digitising property tax records of all 20 lakh properties in Bengaluru and issue digital e-Khata (legal document issued to property owners) from fiscal year 2024-25.

Susan Hodgson is struggling to come to terms with what happened. She can't understand how such a mistake could be made.

Income Tax officials are said to have recovered a huge cache of money stashed in several boxes during searches at properties belonging to a city-based contractor, official sources said on Friday.

Newly constructed flats and a building complex in Varanasi and bank deposits worth about Rs 50 crore have been attached under the anti-benami properties law by the Income Tax department as part of its probe.

Chief Minister YS Jagan Mohan Reddy instructed officials to exempt Gurdwaras from property tax and also to provide benefits for Granthis (Priest for a Gurudwara).

Jim Carrey, Britney Spears and Kylie Jenner are among the celebrities who have put their sprawling properties on the market in recent months.