No tax on rental income

By Staff Reporter Draft National Housing Policy has strongly suggested that there shall not be any tax on rental income from house property in the country. The policy has also suggested that the house tax must be uniform across that country. With the intention of rationalizing the housing scenario in the

Lease rentals will be treated as Business Income

DCIT v. Golflink Software Park P Ltd. (ITAT Bangalore) - The taxpayer was not only letting out its building for rent, but also carried on a complex commercial activity of setting up a software technology park in which various amenities and fit-outs have been provided. The Tribunal relied on the

Rent from unsold flat is Business Income?

By Vimal Punamiya, FCA, LLB Accommodation Times Bureau PROPERTY V/S BUSINESS INCOME Earlier rental income earned by real estate developer was not of dispute, because developers preferred to offer income under house property head so then can claim standard deduction of 30%. But department wants to tax rent income under business head. This issue was resolved

Upgrade slums, expand rentals to ease urban housing crisis in developing countries: Report

By Accommodation Times Bureau Booming cities in developing nations should upgrade slums, build on underused land and promote rental choice to tackle a fast-growing crisis caused by a shortage of affordable housing, researchers said on Wednesday. About a third of people in developing-world cities live in informal settlements, where they often lack