real estate news
ITAT Quashes Ex-Parte Order in Real Estate Cash Deposit Case, Directs Fresh Hearing
The Income Tax Appellate Tribunal (ITAT) in Ahmedabad has quashed an ex-parte order issued by the Commissioner of Income Tax (Appeals) and directed a fresh hearing in a case involving real estate businessman Ghanshyambhai Nanalal Charandas.
real estate news
Income Tax Department Targets Tax Evasion in Joint Development Agreements
The Income Tax Department is launching a drive to target individuals who entered into joint development agreements but failed to pay the requisite capital gains tax. The campaign aims to encourage compliance and reduce tax evasion in real estate transactions.
Real Estate
Empowering Consumers: The Reform Triad Boosting India’s Economic Resilience
The Modi government’s reform trifecta — RBI’s repo rate cuts, sweeping changes in GST 2.0, and a revised income-tax slab regime — are collectively boosting domestic demand and building economic resilience in the face of global uncertainty.
Real Estate
Income Tax Survey on Raymond's Real Estate Arm
The Income Tax department is conducting a survey action on entities linked to the Raymond group, with a specific focus on its real estate business.
real estate news
Income Tax Survey on Raymond's Real Estate Arm: What You Need to Know
The Income Tax Department is conducting a survey action on Raymond's real estate business. Here’s what you need to know about the ongoing proceedings and the company's response.
Real Estate
CBDT Grants Income Tax Exemption to Rajasthan RERA on Government Grants, Loans, and Fees
The Central Board of Direct Taxes (CBDT) has granted income tax exemptions to the Rajasthan Real Estate Regulatory Authority (RERA) for specific categories of income, including government grants, loans, and fees, under Section 10(46) of the Income Tax Act, 1961.
Real Estate
GST 2.0 and Income Tax Cuts to Save Citizens Rs 2.5 Lakh Crore: PM Modi
Prime Minister Narendra Modi announced that the new GST 2.0 and income tax cuts will save citizens Rs 2.5 lakh crore, making daily essentials and investments more affordable.
Real Estate
IT Raids on Caps Gold and Vasavi Group Enter Fourth Day - Uncovering Financial Irregularities
The Income Tax (IT) department continues its raids on Caps Gold Private Limited and Vasavi Group of companies, suspecting large-scale tax evasion and fund diversion through cash transactions.
Real Estate
IT Department Raids CAP Gold and Vasavi Group: Unveiling Suspected Tax Evasion
The Income Tax Department conducted raids on CAP Gold, a leading bullion merchant, and its directors, along with associated real estate firms, over suspected tax evasion. Simultaneous searches were also carried out at the offices of Vasavi Group, a prominent real estate firm in Hyderabad.
Real Estate Mumbai
Income Tax Department Conducts Raids on Real Estate Developers in Pune and Pimpri-Chinchwad
The Income Tax Department has conducted surprise raids on several real estate developers in Pune and Pimpri-Chinchwad over allegations of financial irregularities in land deals. The raids, which included the seizure of important financial documents, come after increased scrutiny from the Maharashtra Real Estate Regulatory Authority (MahaRERA).
Real Estate Mumbai
Special Court Restores Benami Property Case Against NCP Minister Bhujbal
A special court in Mumbai has ordered the restoration of a 2021 benami property case against NCP minister Chhagan Bhujbal, his family members, and their firms. The case was initially quashed by the Bombay High Court on technical grounds but will now be heard on October 6.
Real Estate Maharashtra
Mumbai Court Restores 2021 Benami Property Case Against Chhagan Bhujbal and Family
A Mumbai special court has reinstated the 2021 benami property case involving Maharashtra minister Chhagan Bhujbal and his family members, despite the Bombay High Court's earlier quashing of the case on technical grounds.
Real Estate Mumbai
Mumbai Court Reopens 2021 Benami Property Case Against Chhagan Bhujbal
The Mumbai special court has ordered the restoration of the 2021 benami property case involving Maharashtra Minister Chhagan Bhujbal and his family members, after the Bombay High Court quashed the case on technical grounds.
Real Estate Pune
Income Tax Department Conducts Raids on Real Estate Developers in Pune and Pimpri-Chinchwad
The Income Tax Department has conducted surprise raids on prominent real estate developers and a broker in Pune and Pimpri-Chinchwad over financial irregularities in land deals.
Real Estate
Avoiding Common Mistakes in Income Tax Return Filing for Property Owners
Property owners often make mistakes when filing their income tax returns, especially when it comes to reporting real estate income. Here’s how to avoid them and ensure a smooth tax filing process.
Real Estate
Income Tax Raids Pune Builders and Real Estate Broker for Suspected Financial Irregularities
The Income Tax Department conducted surprise raids on prominent builders and a real estate broker in Pune, uncovering suspected financial discrepancies in land transactions.
real estate news
Income Tax Raids Pune Builders and Real Estate Broker Over Suspected Financial Irregularities
The Income Tax Department has conducted surprise raids on several prominent builders and a real estate broker in Pune and Pimpri Chinchwad, uncovering suspected financial discrepancies in land purchase transactions.
Real Estate
Gift Property to Your Spouse: No Capital Gains Tax, but Income is Taxable
The Income Tax Appellate Tribunal (ITAT) has ruled that gifting property or shares to a spouse does not attract capital gains tax. However, any income generated from the gifted asset, such as rent or dividends, is taxable in the hands of the donor.
Real Estate
ITAT Rules: Mechanical Approval Under Section 153D Invalidates Income Tax Assessment
The Income Tax Appellate Tribunal (ITAT) in Delhi has ruled that an assessment under Section 144 of the Income Tax Act, 1961, is invalid if the mandatory approval under Section 153D is granted without proper application of mind. This decision, favorable to the assessee, highlights the importance of substantive approval in tax assessments.
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.