real estate news
Understanding Property Tax: What It Is and How It's Calculated
Property tax is a yearly or semi-annual tax imposed on real estate owners by local authorities. It is a significant source of revenue for local governments, which use it to fund public services like schools, police, and fire departments.
Real Estate
Understanding Property Tax: Calculation and Importance
Property tax is a yearly or semi-annual levy imposed on real estate owners by local authorities. It is an ad-valorem tax, meaning the amount is calculated as a percentage of the property's assessed value.
real estate news
IT Department Clarifies LTCG Calculations for Pre-2001 Real Estate
The IT Department has clarified the Long-Term Capital Gains (LTCG) calculations for properties acquired before 2001, allowing taxpayers to consider the fair market value of the property as on 1st April 2001.
Real Estate
Understanding Indexation in Long-Term Capital Gains Tax Calculations
The government's decision to withdraw the indexation benefit from long-term capital gains tax computations has sparked concerns among investors and taxpayers. Here's what it means and how it will affect you.
real estate news
New Guidelines for Old Property Sale: I-T Department Issues Crucial Clarification
Get the latest update on the calculation of capital gains tax for properties bought before 2001.
Real Estate
Understanding Long-Term Capital Gains Tax on Real Estate: Clarification on Acquisition Cost
The I-T department has provided clarity on the acquisition cost of real estate properties purchased before 2001 for LTCG calculations, which is now taxed at 12.5%.