Real Estate Mumbai
Massive Tax Evasion Unearthed in Bhopal and Indore Raids; ₹250 Crore Fraud Exposed
The Income Tax Department has conducted raids in Bhopal and Indore, uncovering a massive tax evasion scheme worth ₹250 crore. The operation has led to the seizure of ₹2 crore in cash and documents worth ₹100 crore at Rajesh Gupta’s premises.
real estate news
Income Tax Raids 18 Locations in Jaipur and Kota: Real Estate and Pan Masala Groups Under Scrutiny
The Income Tax Department conducted raids at 18 locations in Jaipur and Kota, targeting real estate and pan masala businesses. The action was triggered by complaints of tax evasion and large cash transactions.
real estate news
Income Tax Raids 18 Locations Linked to Real Estate and Pan Masala Groups in Jaipur and Kota
The Income Tax Department conducted simultaneous raids at 18 locations in Jaipur and Kota, targeting real estate and pan masala businesses for tax evasion and undeclared income.
Real Estate
Major I-T Raids Target Real Estate and Pan Masala Groups in Jaipur and Kota
The Income Tax Department conducted simultaneous searches at 18 locations linked to real estate and pan masala businesses in Jaipur and Kota, targeting tax evasion and undeclared income.
real estate news
Income Tax Raids Target Real Estate and Pan Masala Firms in Rajasthan
The Income Tax Department conducted raids at 18 locations in Jaipur and Kota, focusing on real estate and pan masala companies. The action aims to investigate illegal cash transactions in property deals.
Real Estate Mumbai
Income Tax Raids Target Real Estate and Pan Masala Firms in Rajasthan
The Income Tax Department conducted raids at 18 locations related to real estate and pan masala companies in Jaipur and Kota. The operation, which began at 7 AM, is focused on investigating cash transactions in property dealings.
Real Estate
ITAT Rules: Interior and Utility Costs Count as Acquisition Cost for Residential Property
The Income Tax Appellate Tribunal (ITAT) in Chennai has ruled that expenses on interior works and essential utility connections can be included in the cost of acquisition of a new residential property, qualifying for exemption under Section 54 of the Income Tax Act, 1961.
real estate news
ITAT Rules EDC Payments to HUDA Subject to TDS under Section 194C
The Income Tax Appellate Tribunal (ITAT), Delhi, has ruled that External Development Charges (EDC) paid to the Haryana Urban Development Authority (HUDA) are contractual in nature and subject to tax deduction at source (TDS) under Section 194C of the Income Tax Act, 1961.
Real Estate
Income Tax Act, 2025: Key Changes for Taxpayers, Businesses, and Property Owners
The Income Tax Act, 2025 brings significant changes for individual taxpayers, businesses, and property owners. It aims to simplify tax compliance, enhance transparency, and promote digitalization in the tax ecosystem.
Real Estate
Nagpur SROs Fail to Report Real Estate Deals Worth Over Rs5,500 Crore to I-T Department
The Income Tax Department in Nagpur has uncovered a massive oversight where sub-registrar's offices failed to report real estate deals worth over Rs5,500 crore under the Statement of Financial Transactions (SFT).
Real Estate Mumbai
Bombay High Court Quashes Non-Bailable Warrant for Bailable Offence under Income Tax Act
The Bombay High Court has quashed a non-bailable warrant issued against a petitioner for an offence under Section 276C(2) of the Income Tax Act, which is bailable in nature. The court ruled that the order was passed without application of mind and was contrary to the law.
real estate news
How to File and Retrieve Your Income Tax Return Online
A comprehensive guide on how to file your ITR online, retrieve a copy of your filed returns, and avoid common mistakes to make the process smoother.
Real Estate
Major Income Tax Raid in Narnaul: Hyderabad-Based Real Estate Firm Under Scrutiny
Narnaul’s Deroli Jat village saw a significant Income Tax operation on Tuesday, targeting a Hyderabad-based real estate firm accused of massive tax evasion. Officials from the Rohtak division conducted large-scale raids, examining financial records and questioning individuals involved.
Real Estate Mumbai
Bombay High Court Quashes Tax Notice for Mumbai Woman in Rs 6.75 Crore Property Deal
The Bombay High Court has relieved a Mumbai woman from a tax notice in a Rs 6.75 crore property deal, citing her lack of financial contribution. The court's decision highlights the importance of proper documentation in joint property ownership.
Real Estate
I-T Department Uncovers Major Under-Reporting of Real Estate Deals in Nagpur
The income tax department has discovered significant under-reporting of real estate transactions in Nagpur, with deals worth nearly Rs500 crore not reported by the sub-registrar office (SRO-7).
real estate news
Income Tax Department Uncovers Major Under-Reporting of Real Estate Transactions in Nagpur
The Income Tax Department has uncovered significant under-reporting of real estate transactions in Nagpur, with deals worth nearly Rs500 crore not reported by the SRO. Similar discrepancies were found in Malkapur tehsil of Buldhana. Stay updated with the latest local news from your city.
Real Estate
ITR Filing 2025: Essential Precautions and Checklist for a Smooth Process
As the ITR filing deadline for the financial year 2025 approaches, taxpayers should take several precautions to ensure a smooth and error-free process. Here’s what you need to know and do.
Real Estate
ITAT Rescinds Income Tax Addition for Real Estate Trader Over Unexplained Loan
The Income Tax Appellate Tribunal (ITAT) in Mumbai has provided a significant relief to a real estate trader by deleting a Rs. 4.27 crore addition under Section 68 of the Income Tax Act, 1961, related to an alleged unsecured loan from the trader's daughter-in-law.
Real Estate
ITAT Quashes Rs. 14.2 Crore Tax Demand on Real Estate Firm: No Evidence Found
The Income Tax Appellate Tribunal (ITAT) has dismissed a Rs. 14.2 crore tax demand against a Pune-based real estate firm, citing lack of concrete evidence. The ruling underscores the importance of verifiable evidence in tax assessments.
Real Estate Mumbai
Wife Avoids Income Tax After Selling Two Mumbai Properties for Rs 6 Crore
A wife in Mumbai managed to avoid income tax after selling two properties for Rs 6 crore by leveraging Section 54 benefits and reinvesting the proceeds.