BUSINESS
Redeveloping your house with a builder? Here’s how tax rules work if you get additional floors
Capital gains arising from transfer of land and building for redevelopment by an individual and an HUF shall be charged to tax in the year in which the completion certificate for the project is issued by the competent authority
BUSINESS
Is a handwritten note a valid Will? Here’s what the law says
As per Section 63 of Indian Succession Act, 1925 for a will to be valid it has to be signed by the testator and witnessed by minimum of two witnesses.
BUSINESS
What legal heirs need to know about filing ITR after a taxpayer’s death
The legal heirs are responsible for filing the return of income from 1st April till the date of death of the deceased and discharge the tax liability.
BUSINESS
Can you claim Section 54EC exemption on a depreciated property? Here’s what tax rules say
Section 54EC provides for exemption to any assessee from long term capital gains arising from transfer of long term capital asset being a land or building if the capital gains are invested in capital gains bonds of specified financial institutions within six months .
BUSINESS
Planning retirement with ESOPs? Here’s how to avoid a higher tax hit on foreign shares
The shares which are not listed in India are treated as unlisted shares for taxation purposes.
BUSINESS
One house, two tax breaks: How Sections 54 and 54F can both work for you
Claiming exemption under one section does not bar exemption under another section for the same property.
BUSINESS
Can you claim HRA for more than one rented house at the same time?
As per the Section 10(13A) it seems that the exemption can be claimed only in respect of one house occupied by the employee. However there is no restriction as to whether the same can be claimed in respect of place of duty of the employee.
BUSINESS
Redeveloping inherited property? Tax rules you need to know if selling a portion
Section 54F provides for exemption from long term capital gains arising from sale of commercial property if the net sale consideration is invested in a residential house property
BUSINESS
Jointly-owned property: Is TDS applicable if total rent exceeds Rs 50,000?
The requirement to deduct the tax is qua each recipient of the rent and not qua the property. Since the rent payable to each of the owner of the property is below the threshold of Rs 50,000 the tenant is not required to deduct tax at source.
BUSINESS
What is the tax treatment when shares are transferred from an HUF to an individual account?
The clubbing provisions will continue to apply till a full partition of the HUF assets takes place for dividends received and capital gains realised on the sale of these shares.
BUSINESS
Is compensation received under Motor Vehicles Act taxable? How is interest for delayed payment treated?
If a court enhances motor accident compensation after years of litigation, the interest paid on the delayed amount may attract tax: Here’s how current rules and the 2026 change impact you
BUSINESS
How can you claim capital gains exemption on the sale of a redeveloped flat?
A residential house property becomes long-term after it has been held for more than two years.
BUSINESS
Transferring shares to a friend? Here is how they'll be taxed
The action of transferring shares from your demat account to the demat account of a friend amounts to sale of shares on which you are liable to pay capital gains tax
BUSINESS
Can you claim LTCG exemption in different years for the same house constructed by you?
Section 54F allows exemption on long-term capital gains arising on the sale of a capital asset if the net sale proceeds are invested for purchasing or constructing a residential house property within the prescribed time period.
BUSINESS
Planning to move assets into an HUF? Read the fine print first
Since gifts received from a relative is not treated as income in the hands of the HUF, there is no tax liability for either the member throwing his self-acquired property in the common hotchpot or the HUF who receives such gift
BUSINESS
Missed ITR for FY25? You can still fix it using updated return
One can file an updated Income Tax Return within 48 months from end of the relevant assessment year.
BUSINESS
Share buyback rules before April 2026: Entire payout taxed at slab rate, not capital gains
After the budget proposal becomes law which will be effective from 1st April 2026 for the listed shares which become long term after one year, the retail investor will have to tax at 12.50% and @ 20% if holding period is less than 12 months.
BUSINESS
Can a deceased daughter's family claim her share in father’s property?
Under the Hindu Succession Act, 1956 on the death of a person without making a will his assets are inherited by the legal heirs mentioned in schedule to the Hindu Succession Act, 1956 as their individual asset.
BUSINESS
ELSS or NSC: which option saves more tax and offers better returns?
The suitability of an investment product depends on factors such as risk appetite, time horizon and near-term liquidity requirements
BUSINESS
When does NRI status apply to Indian crew working on a foreign ship?
Under the income tax laws, a person's income is taxed based on their residential status and the source country of the income
BUSINESS
Selling cumulative bonds before maturity: Is the gain taxed as LTCG or interest income?
Cumulative bonds carrying fixed coupon rate can be treated as capital asset. Any profit or loss made on sale of such bonds should logically be taxed under the head capital gains.
BUSINESS
Selling land bought 40 years ago? Here's how to prove the ownership without copy of agreement.
Since this is no longer an agricultural land, long-term capital gains tax apply, Here’s how
BUSINESS
Why senior citizens should register will for smooth succession of stocks
For uninterrupted succession of an assets to legal heirs or nominees, the original shareholder should make a valid will and get it registered
BUSINESS
Should you switch your home loan to a lender offering lower rates? What borrowers should know
When transferring the home loan, compute the amount that can be saved after calculating interest rate on the remainin balance for the remaining tenure.
