Income Tax Exemption on Tenants under Redevelopment

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By Accommodation Times News Services Redevelopment of a tenanted building involves demolition of tenanted premises of the old building, in lieu of grant of new premises in the new building. The new premises may be provided with ownership rights or may be given on tenancy. In the later case, the old tenancy rights may be surrendered in lieu of the tenancy More...

by admin | Published 3 years ago
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By admin On Wednesday, December 17th, 2014
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Flat income tax of 8% chargeable for real estate business if no books kept : Delhi High Court

By Accommodation Times News Service HIGH COURT OF DELHI AT NEW DELHI Date of Decision: December 09, 2014  ITA 80/2014 COMMISSIONER OF INCOME TAX-XII versus SUBODH GUPTA JUDGMENT SANJIV KHANNA, J (ORAL) This appeal More...

By admin On Wednesday, August 21st, 2013
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TDS on transfer of certain immovable property other than agricultural land

TDS on transfer of certain immovable property other than agricultural land (Section 194-IA) Authors: CA. Dr. RajendraKumar Jain & CA. Dhansukh Jain Tax Deducted at Source (TDS) is the easiest More...

By admin On Monday, July 8th, 2013
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Income Tax on Sale of Agriculture Land

By Accommodation Times News Service By CA VIMAL PUNMIYA Amendment in definition of Agriculture land By Finance Bill-2013-14 By the provision of “Sec.2(14) Capital Asset”, Rural agriculture land was exempt from capital More...

By admin On Tuesday, November 20th, 2012
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Housing Loan Interest Eligible For Double Deduction: ITAT Chennai

By Accommodation Times Bureau Interest paid on borrowing for acquiring house deductible u/s 24(b) & 48 The assessee borrowed funds for purchasing a house. The interest paid on the said loan was claimed as a More...

By admin On Thursday, September 20th, 2012
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No Commercial Space Ceiling for 80IB before 1.4.2005

By Accommodation Times Bureau S. 80-IB(10)(d) ceiling on commercial area inserted w.e.f. 1.4.05 does not apply to projects approved before that date The assessee’s housing project was commenced pre 1.4.2005 when More...

By admin On Monday, August 20th, 2012
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Investment in Capital Gain Tax Bonds is choice of Assessee

By Accommodation Times Bureau CIT vs. Cello Plast (Bombay High Court) : Fact that s. 54EC bonds were available during the 6 months & that there were alternative bonds available irrelevant if the bonds not available More...

By admin On Friday, June 8th, 2012
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Save Capital Gain Tax this way

Accommodation Times Bureau Excerpts from Direct Tax Laws with tax planning aspects by T.N. Manoharan. 1. Capital gains is chargeable to tax in the year in which transfer takes place except in certain exceptional More...

By admin On Monday, November 14th, 2011
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Benefit of House Rent Payment for Salaried receiving HRA

HOUSE rent allowance, or HRA, is a major component of your salary. This is given by an employer to an employee to meet the cost of renting a home. As a salaried employee you can claim a tax exemption on such an More...

By admin On Monday, August 29th, 2011
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Firm is not entitled to exemption under S 54 of Income Tax Act

Firm is not entitled to exemption – A firm is not entitled to exemption under section 54 – CIT v. K. Gangiah Chetty & Sons [1995] 214 ITR 548 (Mad.). Tax authorities must determine extent of appurtenant More...

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