The tax proposals are expected to mobilise an additional revenue of Rs. 1,000 crore.
Reit as an investment vehicle has a huge opportunity as the country has a rent-yielding office inventory of 537 million square feet valued in excess of $70 billion.
London-based Indian Journalist's Association (IJA) has sent a notice to Sahara Pariwar chairman and managing worker Subrata Roy asking his group not to prevent journalists from discharging their duties.
Tamil Nadu on Thursday decided to allocate ten acres of land to Wipro and five acres to Tata Consultancy Services in Coimbatore.
The BJP lost 15 of the 80 Lok Sabha seats in 2019. Union ministers have been deployed in all 15, tasked with turning the result around.
Eleven fresh cases of stamp duty evasion have been registered by the Uttarakhand government against Ramdev's Patanjali Yogpeeth Trust, spelling more trouble for the yoga guru.
Brokers said the Securities Transaction Tax regime and high stamp duty charges on share market transactions were the main reasons for the high cost of trading in India. As per the current STT rate structure, a delivery-based cash market transaction is taxed at Rs 12,500 per Rs 1 crore (Rs 10 million), or 0.125 per cent. The tax is levied on both buyers and sellers.
A month after the BJP-led government in Maharashtra announced allotment of a prime piece of land in Mumbai to actress and MP Hema Malini for a dance academy, an RTI activist has claimed the plot valued in crores is being given to her for a mere Rs 70,000.
The Reserve Bank of India has brought about many new directives and guidelines in order to curb speculation in the property market as the sector stands poised for a revival post recession recovery.
Individual should be extra careful when taking money from parents or relatives to buy a property
Several income tax proposals, including 30 per cent tax on income from trade in cryptocurrencies will come into effect from Friday. Also, the revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year. As per the revised norms, TDS of 1 per cent shall be deducted on consideration or stamp duty value, which ever is higher, as against the earlier provision of consideration.
Buyer to pay tax on gains made on undervalued property purchase.
The Vedanta team held a meeting with Shinde, Fadnavis and top officials on July 26, he said.
Maharashtra Government has decided to impose capital value-based system to calculate property tax on buildings, lands, houses and establishments across the state.
The much-vaunted GST will reform India's complex indirect tax system, while maintaining the balance of power between the Centre and states. We bring you the key figures in its evolution. . .
In the Budget, the government has banned cash transactions above Rs 300,000. This means that people will have to pay stamp duty and registration charges on the actual cost of transaction.
Reserve Bank of India has taken a slew of measures to make life difficult for real estate developers.
Fears that Maharashtra, where the country's two biggest bourses are located, might increase a tax levied on speculative share transactions, could deepen a stock market slump, brokers say.
Keep additional cash to meet costs such as brokerage fee, society charges and parking fees.
Decoding four important provisions in the Finance Bill 2018.
The Finance Minister Pranab Mukherjee on Monday tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping refroms in areas like petrol pricing and financial sector.
A demat or 'dematerialised' account holds shares in electronic form, thus saving you the bother of holding shares in paper form.
Many financial sector reforms suggested by the Percy Mistry Committee may not figure in Budget 2008-09.
The property rates in the ready reckoner for Mahrashtra may drop marginally reflecting the subdued sentiments, sources said. A final decision may be taken on Wednesday. The property ready reckoner is prepared by the office of the inspector general of registration and stamp duties on the basis of transactions in real estate sector in respective areas.
The data is expected to form the basis for policy decisions such as rationalising stamp duty, capital gains tax, municipal tax and determining mortgage rates.
Samajwadi Party Member of Parliament Jaya Bachchan on Tuesday alleged that Uttar Pradesh Chief Minister Mayawati was pursuing action against her husband Amitabh Bachchan to gain cheap publicity."She (Mayawati) does so many things, she does not do things. Do journalists write about these things? But when she takes action against Amitabh Bachchan, you people write," Jaya said. Her remarks came a day after the Barabanki district authorities issued a notice to the superstar.
Housing finance companies step in to provide loan to customers turned away by banks.
Reflecting the sombre mood in the real estate sector, the Maharashtra government, for the first time in eight years, has not changed the indicative prices of properties in the ready reckoner, which is used by the government to charge stamp duty on property transactions.
To lure the business process outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
It may be recalled that the Gujarat government had introduced Prohibition of Transfer of Immovable Property and Provision for Protection of Tenants from Eviction from Premises in Disturbed Areas Act, Gujarat in 1991 after the communal riots to prevent distress property deals between members of different communities and ghettoisation. The Act had around 20 police stations under its jurisdiction in Ahmedabad.
Dwaipayan Bose highlights the similarities and contrasts between ETFs and Index Funds.
As the country slips into a new year, the defining reality about the relationship between the citizen and the state is the transition, however partial, from the first view to the second. In its own way, the transition has just found expression in the Gujarat elections, and it will be reflected again as 10 more states go to the polls this year, before the big test in 2009.
The prices are used to charge stamp duty and are calculated on the basis on trends in the property market. They are published by the state government on January 1 every year. This year, for the first time in eight years, the state government did not propose any change in the rates taking into consideration the downward trend in property prices.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
A delegation of opposition party leaders on Friday met the top brass of Election Commission to raise its concerns over poll code violations by the ruling party leaders, and also flagged concerns over delay in release of voter turnout figures for the first two phases of the polls.
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
