An individual’s income is subject to an indirect tax known as TDS. The TDS is withheld at source from both recurring and one-time income at the time of payment. For instance, if someone wins the lottery, their proceeds will be distributed to them after the appropriate withholding tax has been subtracted. The same holds for recurring earnings like salary payments. Employers are required by TDS laws to withhold a specific amount of tax before disbursing earnings.… Read more
What exactly is Land Tax?
When intending to buy a land/plot or a developed property, it is essential to consider extra charges like stamp duty and registration fees to properly handle money. Land tax, on the other hand, is a regular expenditure that is paid bi-annually or annually. As a result, it must be completely comprehended before making a real estate commitment.… Read more
All you need to know about commercial property taxes
Tags: Tax
In India, the commercial belongings tax is based on “real belongings.” Municipalities use the money raised from these taxes to build roads, colleges, and public facilities.… Read more
The city of Navi Mumbai has extended its property tax amnesty program
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The municipal corporation in Navi Mumbai has extended the property tax amnesty scheme to the end of February for property tax debtors. … Read more
TDS on the sale of immovable property is proposed to be amended in Budget 2022
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For the Finance Budget 2022, Finance Minister Nirmala Sitharaman suggested a 1% TDS (Tax Deduction at Source) on non-agricultural immovable property valued at over Rs 50 lakh, depending on the sale price or stamp duty value, whichever is larger. … Read more
Capital Gains – Tips To Reduce Your Capital Gains Tax!
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Land is arguably the best example of a Capital Asset and and as an asset whose value appreciates overtime, a landowner can sweep huge capital gains on its sale. … Read more
No property tax on residential homes of up to 500 square feet in Mumbai
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MUMBAI: The Maharashtra government announced on Saturday that property taxes on housing units of up to 500 square feet placed inside the Mumbai municipal area boundaries will be cancelled. … Read more
Pimpri-Chinchwad civic body: Another extension of the property tax relief scheme
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The new extended date for both residential and commercial use properties is till August 31. To avail all the relief scheme benefits, the citizens have to pay the tax before the last date. … Read more
CREDAI seeks input tax credit on GST, which can reduce house prices
Tags: Tax
CREDAI on Tuesday requested that developers be granted the input tax credit (ITC) under the GST scheme, which may result in a 10 percent decrease in housing costs. CREDAI, which has over 13,000 developers, asked the federal government to ease the ITC for property developers under the composite GST system.… Read more
