Income Tax : Unlock Tax Savings! Explore how strategic investments in under construction properties can lead to substantial benefits, including...
Income Tax : Understand Section 24(b) of the IT Act for pre-construction interest on home loans. Learn when to claim deductions with a detailed...
Income Tax : Explore deductions under Sections 24b, 80EE, and 80EEA of the Income Tax Act, 1961, for interest on borrowed capital or housing lo...
Income Tax : Discover the tax advantages of home loans under the Income Tax Act, 1961. Explore Sections 24B, 80C, 80EE, and 80EEA, which offer ...
Income Tax : Is rental income from sub-letting chargeable to tax under the head Income from house property? Ans: Rental income in the hands of ...
Income Tax : While presenting interim Budget 2019-20 FM proposed to exempt the levy of income tax on notional rent on a second self-occupied ho...
Goods and Services Tax : Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the a...
Income Tax : ITAT Mumbai's decision on Kanti Thermo Equip Pvt Ltd Vs ACIT. Disallowance of expenses against rental income, share of profit, an...
Goods and Services Tax : Learn how Gujarat High Court ruled that credit ledger balance can be utilized for pre-deposit when filing GST appeals. Details in ...
Corporate Law : Supreme Court rejected the bail application of Shri Satyendar Kumar Jain and others involved in the case of money laundering as ap...
Excise Duty : Delhi High Court held that charges relating to clandestine removal and undervaluation of goods cannot be sustained merely on the b...
Fema / RBI : 2. With a view to disseminating information on the SLR status of a Government security, it has been decided that: (i) the SLR stat...
Delhi High Court held that in respect of Special Audit remuneration under section 142(2D) of the Income Tax Act invocation of provisions of MSMED Act not tenable and completely misplaced. Accordingly, the Income Tax Act would thus prevail over the provisions of the MSMED Act.
Discover the tax advantages of home loans under the Income Tax Act, 1961. Explore Sections 24B, 80C, 80EE, and 80EEA, which offer deductions for interest on loan borrowed, principal repayment, and additional deductions. Gain insights into eligibility criteria and maximize your tax benefits.
ITAT Chandigarh held that receipts of the assessee trust from its activities of sale of plots, flats and commercial booths and also its income earned form non-construction fee, transfer fee, penal interest and compounding fee, etc., are held to be entitled for exemption under Section 11 of the I.T. Act.
Is rental income from sub-letting chargeable to tax under the head Income from house property? Ans: Rental income in the hands of owner is charged to tax under the head Income from house property. Rental income of a person other than the owner cannot be charged to tax under the head Income from house property.
ITAT Ahmedabad confirmed addition on account of bogus long term capital gains from transaction in penny stock observing that mere filing documentary evidences did not discharge onus cast on the assessee to prove genuineness of the transaction.
ITAT Mumbai held that composite rental income received by letting out school building with infrastructure and amenities is taxable under the head ‘Income from House Property’ and not under ‘Income from income from other sources’ in view of section 56(2)(ii) of the Income Tax Act.
Delhi High Court granted interim bail on petitioner satisfying the test of proviso to section 45(1) of the Prevention of Money Laundering Act, 2002 (PMLA) as petitioner is suffering from life-threatening diseases warranting immediate medical attention.
ITAT Mumbai held that addition towards bogus purchases unsustainable if the alleged bogus purchases show gross profit higher than the regular gross profit.
Until a few years ago, homebuyers knew only one way of buying a home — they saved and saved for years and when they had saved enough, they would invest in a home.
Article delve into the details of Section 80EE, its eligibility criteria, and how to claim the deduction while optimizing your income tax return.
