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
GSTN Introduces Key Changes in Invoice Management System for October 2025
The Goods and Services Tax Network (GSTN) has announced significant changes in the Invoice Management System (IMS) to simplify the taxation process and reduce compliance burdens for businesses. These changes will be effective from the October 2025 tax period.
real estate news
Buying a Home with Your Spouse? Ensure Documents Reflect Joint Contributions for Tax Compliance
When buying a home with your spouse, it's crucial to ensure that all documents reflect both spouses' contributions to avoid tax disputes and ensure legal protection.
Real Estate
Buying a Home with Your Spouse? Ensure Documents Reflect Both Contributions
When purchasing a home with your spouse, it's crucial to ensure that all documents reflect both spouses' contributions to avoid tax disputes and legal issues. Here’s how to do it right.
real estate news
GST Reduction on Cement: A Game-Changer for the Real Estate Sector
The Confederation of Real Estate Developers' Associations of India (CREDAI) has praised the government's decision to reduce the GST rate on cement from 28% to 18%, predicting a significant boost in the real estate sector.
Real Estate
GST 2.0: A Game-Changer for the Real Estate Sector
The introduction of GST 2.0 aims to reduce construction costs and simplify tax compliance, benefiting both homebuyers and developers in the real estate market.
real estate news
NRI Guide: 6 Essential Factors to Consider Before Investing in Indian Real Estate
Non-Resident Indians (NRIs) must carefully evaluate key factors such as purpose, costs, property management, and tax implications before investing in real estate back home. Stamp duty can range from 4–10% of the property's market value, and other expenses like registration fees and brokerage must also be factored in.
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 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 news
Selling a Property Gifted by Parents: Understanding Tax Implications
If you've received a property as a gift from your parents and are planning to sell it, understanding the tax implications is crucial. This article explains how capital gains tax is calculated and what steps you should take to ensure compliance.
real estate news
India's Financial Secrecy: Real Estate, Trusts, and Partnerships Under the Microscope
India has climbed to 24th place in the Financial Secrecy Index, highlighting significant areas of opacity in real estate, trusts, and partnerships. Despite progress in corporate transparency, the country faces challenges in automatic information exchange and anti-money laundering frameworks.
real estate news
5 Essential Tips for NRIs Investing in Property in India
Discover the crucial steps Non-Resident Indians (NRIs) should take before investing in property in India. From funding the purchase to tax considerations and due diligence, this guide covers everything you need to know.
Real Estate
Key Risk Areas for CAs in Filing ITRs for HNIs and Business Owners
High Net-Worth Individuals (HNIs) and business owners have complex financial structures that introduce various tax complexities and regulatory risks. Chartered Accountants (CAs) must be vigilant to ensure accurate tax reporting and optimal financial structuring.
Real Estate
GST Audit on Flat Sales: Understanding the 1% and 5% Rates - A Comprehensive Guide
Real estate projects are categorized into Residential Real Estate Projects (RREP) and Real Estate Projects (REP) under GST. This guide explains the correct GST rates and common audit issues to avoid.
Real Estate
Will the Income Tax Department Extend ITR Filing Due Date for AY 2025-26?
As the July 31 deadline for filing income tax returns (ITR) approaches, chartered accountants (CAs) are already fielding early questions from clients about potential extensions. With the delay in releasing ITR forms and utilities, the possibility of an extension is being discussed.
Real Estate
Understanding Cash Transaction Limits for Business Expenses and Asset Acquisition
Explore the legal limits on cash transactions for business expenses and asset acquisition, including the exceptions and implications for tax-deductibility and depreciation.
Real Estate
ITAT Reverses Interest Payment Disallowance Under Section 40(a)(ia) for Form 26A Verification
The Income Tax Appellate Tribunal (ITAT) has remanded the disallowance of interest payments under Section 40(a)(ia) of the Income-tax Act, 1961, pending verification of Form 26A. This decision highlights the importance of proper documentation and compliance in tax assessments.
real estate news
Understanding the ₹7500 GST Threshold for Housing Societies
Learn how the GST threshold of ₹7500 per month impacts housing societies and what it means for residents.
real estate news
18% GST on Apartment Maintenance Fees: What You Need to Know
If a housing society's annual turnover exceeds Rs 20 lakh and an individual flat owner pays over Rs 7500 per month as maintenance, then 18% GST will be applicable on the full amount. Here's a detailed breakdown of the new tax rules and how they will affect homeowners.
Real Estate
Understanding RCM on Rent for Commercial Property: A Comprehensive Guide
This article delves into the Reverse Charge Mechanism (RCM) on rent for commercial properties, providing clarity on its applicability and implications.