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Big Relief For Ajit Pawar, Tax Department Clears Assets Seized In Benami Case
In a big relief to Maharashtra Deputy Chief Minister Ajit Pawar, the Income Tax department has cleared properties worth over Rs 1,000 crore seized in 2021.
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Lok Sabha Passes Bill To Amend Long Term Tax Provision On Properties
The Lok Sabha on Wednesday passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate.
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Explained: How New Long Term Capital Gains Tax Options Will Boost Real Estate Market
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.
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Nirmala Sitharaman Proposes Amendments To LTCG Tax On Immovable Properties
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.
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Relief For Homeowners As Centre Modifies Long Term Capital Gains Tax
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.
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Tax Body Clarifies Acquisition Cost Of Real Estate Bought Before 2001 For LTCG
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.
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Budget 2024: Government Proposes To Remove Indexation Benefit On Sale Of Old Property
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
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Budget 2024: Centre To Look At Lowering Duties For Properties Purchased By Women
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.
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Tax Benefits, Intellectual Property Rights On Pharma Industry's Budget Wishlist
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.
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No Marathi Signboard? Pay Double Property Tax: Mumbai Civic Body's New Rule
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
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Properties In Bengaluru To Soon Get Digital Ownership Document: Chief Minister
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.
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US Woman's Family Home Mistakenly Demolished While She Was On Vacation
Susan Hodgson is struggling to come to terms with what happened. She can't understand how such a mistake could be made.
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Boxes Of Cash Found In Raids At Contractor's Properties In Bengaluru
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.
-
Rs 50 Crore Assets Attached After Raids In Case Against Samajwadi Party Leader
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.
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Andhra Pradesh To Waive Off Property Tax On Gurdwaras
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).
-
Big Relief For Ajit Pawar, Tax Department Clears Assets Seized In Benami Case
In a big relief to Maharashtra Deputy Chief Minister Ajit Pawar, the Income Tax department has cleared properties worth over Rs 1,000 crore seized in 2021.
-
Lok Sabha Passes Bill To Amend Long Term Tax Provision On Properties
The Lok Sabha on Wednesday passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate.
-
Explained: How New Long Term Capital Gains Tax Options Will Boost Real Estate Market
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 Proposes Amendments To LTCG Tax On Immovable Properties
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.
-
Relief For Homeowners As Centre Modifies Long Term Capital Gains Tax
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.
-
Tax Body Clarifies Acquisition Cost Of Real Estate Bought Before 2001 For LTCG
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.
-
Budget 2024: Government Proposes To Remove Indexation Benefit On Sale Of Old Property
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: Centre To Look At Lowering Duties For Properties Purchased By Women
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.
-
Tax Benefits, Intellectual Property Rights On Pharma Industry's Budget Wishlist
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.
-
No Marathi Signboard? Pay Double Property Tax: Mumbai Civic Body's New Rule
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
-
Properties In Bengaluru To Soon Get Digital Ownership Document: Chief Minister
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.
-
US Woman's Family Home Mistakenly Demolished While She Was On Vacation
Susan Hodgson is struggling to come to terms with what happened. She can't understand how such a mistake could be made.
-
Boxes Of Cash Found In Raids At Contractor's Properties In Bengaluru
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.
-
Rs 50 Crore Assets Attached After Raids In Case Against Samajwadi Party Leader
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.
-
Andhra Pradesh To Waive Off Property Tax On Gurdwaras
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).
