Stamp Duty and Registration Charges are the expenses which have to be paid while buying a house and get it transferred in your name. It is the tax that is paid on the market value of the house. The Stamp duty and registration charge is mandatory and is levied by the Government of India. The … Read more
What is House Property Income Any building or land attached to it that is owned by the assessee is considered to be house property. House properties could be your own home, office, a shop, or even a building that is attached to the building like a parking lot. This could also include the land that … Read more
Tax Implications When Selling a House: People are always keen to find themselves their first home. For this purpose, they work tirelessly day-in and day-out. However, before one buys or sells a house there are certain tax implications that needs to be taken care of. Without prior knowledge about applicable tax liability, house owners and … Read more
Deduction 80EE – Deduction in respect of Interest on Loan take for Residential House Property: If you had a loan sanctioned (Home Loan) between 1st April 2016 and 31st March 2017, you will be eligible to take advantage of the deduction under section 80EE. Please don’t confuse about section 24(b) and section 80EE; both sections … Read more
Owning a residential house is a dream of every person. The privilege of owning a house not only gives you the liberty to operate with ultimate freedom with respect to construction and modification, but also lets you have a status symbol. One thing that you would be pleased to hear is that even the Government … Read more