1% TDS On Purchase Of Immovable Property must be deducted

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By Accommodation Times Bureau Under Section 195, on transfer of immoveable property by a non-resident, tax is required to be deducted at source by the transferee. However, there is no such requirement on transfer of immoveable property by a resident except in case of compulsory acquisition of certain immoveable properties (section 194LA). The Finance More...

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By admin On Monday, October 9th, 2017
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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 More...

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By admin On Monday, October 9th, 2017
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TDS on Purchase of Immovable Property

By Accommodation Times Bureau Under Section 195, on transfer of immovable property by a non-resident, tax is required to be deducted at source by the transferee. However, there is no such requirement on transfer More...

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By Staff Reporter On Friday, March 24th, 2017
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Income from House Property must be understood carefully

By Accommodation Times Bureau Meaning of House Property:- House property consists of any building or land appurtenant thereto of which the assessee is the owner. The appurtenant lands may be in the form of a courtyard More...

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By admin On Monday, March 6th, 2017
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The letter of allottment, even though not “ownership”, must be taken as the date of holding the asset

By Accommodation Times Bureau Capital Gain will be calculated from date of allotment letter. While s. 2(42A) uses the term “held”, the other provisions use the terms “acquired”, “purchased” More...

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By admin On Thursday, March 2nd, 2017
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Section 50 C and Stamp Duty should be align for fair market value

By Vimal Punmiya, FCA, LLB Besides the current recession in the market, one of the prime reasons that have instigated the market for housing and realty sector to face a further downfall, is the modus operandi for More...

arun-jaitley
By Staff Reporter On Wednesday, February 22nd, 2017
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Budget’s influence on housing taxation

By Accommodation Times Bureau.   According to the recent Parliamentary General- Budget for the year 2017-2018, held on February 1st, 2017. The Union Minister of Finance and Corporate Affairs Shri Arun Jeitley More...

DrChaturvedi
By admin On Monday, February 13th, 2017
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Impact of change of Base year to 2001 for Capital gain Tax

By Dr Sanjay Chaturvedi, LLB, PhD Income Tax on Capital Gain Tax was having its base year 1981. For all the properties acquired before 1st April 1981, this date was taken a base year and marked as 100. All capital More...

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By admin On Tuesday, June 21st, 2016
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The Income Declaration Scheme-2016

By Accommodation Times News Service By CA Vimal Punmiya India has seen various Voluntary Disclosure Schemes under the Income tax and wealth tax Act in the past as under: VDS – Scheme No. of Declarants Income More...

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By admin On Friday, October 30th, 2015
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An expense towards repair of flat is allowable deduction under section 54 of Income Tax

By Accommodation Times News Services Income Tax Appellate Tribunal – Mumbai JCIT vs Smt. Armeda K. Bhaya 95 ITD 313 (Mum.) Dated- 16 March, 2004 Bench: R Tolani, K Boliya ORDER R.P. Tolani, Judicial Member 1. More...

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