Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TDS :: articles on VAT and GST in India :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: cpt :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd
 
 
News Headlines »
 Income tax returns (ITR) filing guide: 10 excellent tax-saving options other than Section 80C to save money
 TDS Rate Chart for AY 2018-19
 Last date to submit third installment of advance tax is December 15
 5 tax-saving funds that have given stellar returns in the past 5 years
 Find out which ITR Form is suitable for you
  Pr CIT vs. Baisetty Revathi (Andhra Pradesh High Court)
 What is income tax?
 Refund procedure initiated under GST
 Income tax returns (ITR) filing: How to get capital gains tax benefits on assets in own name
 7 avenues to help you save tax under Section 80C of Income Tax Act
 How to make income tax law less taxing

50% property lease income now tax free
October, 10th 2006
Landlords reluctant to rent out their properties may now have an incentive to do so. In order to bring in 15.8m unoccupied dwellings across the country in circulation, the government may consider increasing the limit of tax-free income, from property leasing, to 50% from the existing 30%. The exercise could be revenue neutral for the public exchequer as the government may simultaneously increase income tax on those residential properties, which are used for commercial purposes. According to a senior government official, the finance ministry is considering a proposal to remove tax on rental income from house property. The finance ministry has taken stock of our recommendation and has asked us to make changes in some clauses in the policy pertaining to rental income, said an official from the ministry of housing. Even as the draft National Housing Policy has asked for a complete waiver of tax on rental income, it is understood that the finance ministry may settle for 50%, he added. The National Housing and Habitat Policy, 1998, was formulated to provide shelter besides rationalisation of Stamp Duty and strongly recommended repeal of the Urban Land Ceiling Act (ULC) Act. The new Draft National Housing Policy has been re-framed to restore interest in housing and making it affordable. The policy has also suggested that residential properties, which are used for commercial purposes, be charged extra tax. The policy is currently under the consideration of committee of secretaries. It is estimated that several crore people will migrate to urban areas in the next decade as employment in the agriculture sector is falling. Hence, there is a dire need for the government to open up rental accommodations for new migrants to the urban centre providing the incentives to house owners, said a senior government official. Industry experts said that, if implemented, the move would see a substantial increase in end-user consumption of available properties. Currently, there is no dearth of supply in the real estate market. However, because of speculative buying, many such properties are getting locked. This move will definitely solve the housing problem to a great extent, Sanjay Verma, joint managing director, Cushman & Wakefield said. Experts add that in the absence of any concrete incentive in the rental market, selling pressures on property owners are also very high.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions