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.
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 s…
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 …
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…
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 as…