MUMBAI: Recently, the Mumbai income tax appellate tribunal (ITAT) denied a claim on house rent allowance (HRA) by a taxpayer. She had paid rent in cash to her mother, but was unable to substantiate it. On the other hand, the Ahmedabad ITAT allowed the HRA exemption claimed by a taxpayer who had paid rent to …
For tax relief, you need proof of rent paid to kin Read More »
NEW DELHI: After May 1, when the Real Estate Regulatory Act (RERA) is in place, the realty sector will likely see an uptrend with slight price correction, say industry players and stakeholders. This is likely as genuine buyers may pitch in on the back of an improved consumer climate and lower home loan rates. “Considering …
RERA may revive real estate sector in second half, say experts Read More »
The State Government has changed the way it taxes transactions involving large plots of urban land. The new methods of levying stamp duty apply to parcels of land converted for non-agriculture use such as housing, industrial or commercial. The new rule has come into effect from April 1 and is expected to push up the …
BENGALURU: You needn’t worry about building or investing in a property close to lakebeds if you have obtained the building approval before May 2016. The National Green Tribunal, in an order on May 4, 2016, increased the buffer zone around lakes in Bengaluru from 30 to 75 metres.The order has ruled out new constructions in …
BENGALURU: Building a new house in the city is set to get a little costlier. Those constructing buildings will have to cough up a lake rejuvenation fee, in addition to existing fees for water, electricity connection and building plan approval. The lake fee is likely to be fixed at Rs 25 per square metre for …
