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Blog posts June 2017

Section 80EE: Deduction in respect of interest on loan taken for residential house property

June 28, 2017

Section 80EE: Deduction in respect of interest on loan taken for residential house property


CBDT has introduced section 80EE of Income Tax Act, 1961 w.e.f. 01.04.2017 i.e., deduction under this section is available from A.Y. 2017-18 and also available for subsequent Assessment years. 

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Can a Karta pay rent to his HUF

June 12, 2017

 

Our valuable client asked us:-

Question. I am a salaried employee and want to purchase a flat for my residence. From the taxation point of view, will it be advisable to purchase the same in my name or in my HUF’s name. My further query is whether the HUF can charge any rent from me? If …

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Benefit of Section 54F in case of sale of shares of a Private Limited Company

June 11, 2017

Benefit of Section 54F in case of sale of shares of a Private Limited Company

Section 54F of the Income Tax act deals with exemption from Capital gains tax arising on transfer of certain capital assets and subsequent investment in a residential house.

 If an assessee has sold a capital asset …

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MahaRERA – Customer is always the king

June 8, 2017

The real Estate (Regulation and Development) Act 2016 was brought into fruition from May 1, 2017. The law was passed to ensure proper transparency and upkeep regarding the sale of a plot, building, apartment or any real estate commodity for that matter. The Law also makes sure that customer interest…

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New ITR Forms by CBDT for A.Y. 2017-18 (F.Y. 2016-17)

June 8, 2017

The ongoing months – June to September is the harbinger of income tax filing season. Taxpayer needs to furnish the particulars of their income to IT Authority.

This time CBDT has revamped the ITR Forms. Board has also showed up with comparatively lesser number of ITR Forms. Some key points are …

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5 blog posts