In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The government on Friday said GST will not be applicable on residential units if they are rented out to private persons for personal use. The government dismissed media reports which claimed that there is an 18 per cent Goods and Services Tax (GST) on house rent paid by tenants. In a tweet, the government said GST would be levied only when the residential unit is rented out to a business entity.
Bought or sold property? There is a good chance the Income Tax (I-T) department will raise queries about it. While the possibilities of illegal transactions abound in such deals, the department's scope for availing documentary evidence through registrars and builders is also quite high. Therefore, a mismatch in the information filed could give rise to your account being scrutinised.
Her immovable assets are worth over Rs 7.74 crore, which includes two inherited half shares of agricultural land in Mehrauli area of New Delhi and a half share in a farmhouse building located therein, all of which together are now worth over Rs 2.10 crore.
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
Atishi will have a brief tenure in office as assembly elections in the national capital are due in February.
Deduction on home loan interest cannot be claimed when the house is under construction
Opposition MPs in the parliamentary committee scrutinising the Waqf (Amendment) Bill are scheduled to meet Lok Sabha Speaker Om Birla on Tuesday to protest its chairperson Jagdambika Pal's alleged 'unilateral' decisions and attempts to 'bulldoze' proceedings, indicating that they may disassociate themselves from the panel.
Mobile applications will now take centre-stage as Bharti Airtel grows its business.
An income tax tribunal held that the PoA could not be construed as an instrument of transfer concerning any right, title, or interest in the immovable property.
As we brace for unprecedented rates of urbanisation, it is crucial to ensure that illegal constructions and unauthorised land use are curbed, asserts Amit Kapoor.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
While movie stars like Akshay Kumar, Amitabh Bachchan and Salman Khan are among the top I-T payers, very few of the wealthiest Indians figure on the list.
One per cent TDS will apply on non-agriculture immovable property of over Rs 50 lakh on the basis of sale price or the stamp duty value, which ever is higher, after an amendment in the Income Tax Act.
rediffGURU Samkit Maniar answers readers' personal income tax queries
The suspected undisclosed income in these cases could reach as much as Rs 15,000 crore.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
SVAMITVA is a new government project that primarily aims to demarcate abadi areas that includes inhabitant land, inhabited areas contiguous to abadi and wadis/basties in rural areas, using drone surveying technology.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Your high expectations and attachment to certain property can make you buy property which is not financially suitable.
A 5 per cent increase in fees for various licences has been proposed without tweaking the existing tax structure. The BMC's total budget estimates for the next financial year are 8.95 per cent more than the last fiscal.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Income tax authorities on Friday launched coordinated searches across different locations in Tamil Nadu linked to state Electricity Minister V Senthil Balaji, police sources said.
Urban Development and Municipal Affairs minister Firhad Hakim said that if the provision for reduction in taxes did not exist in the Kolkata Municipal Corporation Act, an amendment had to be passed in the Assembly before the waiver of taxes came into force.
The department raided more than 35 premises in Maharashtra's capital city on February 25, and the Central Board of Direct Taxes (CBDT) said in a statement on Thursday that 'preliminary investigation indicates that these contractors have evaded income to the extent of Rs 200 crore on account of...malpractices'.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
The multi-crore Dharavi slum redevelopment project involves no land transfer to the Adani group but to the Maharashtra government's departments, and the Ahmedabad-based conglomerate, as a project developer, will build houses that will be handed over to the same departments for allotment to residents of Asia's biggest slums, sources said. Denying allegations of land grab made by MP Varsha Gaikwad, sources close to the project said land parcels are to be transferred only to Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the state government's housing department.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
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