« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Core cos borrowing abroad for power play to get tax sop... Regulator seeks NPS tax relief... » Govt may raise tax cap on rent income December, 05th 2007 House owners may be in for a bonanza this Budget. The government may increase the tax exemption ceiling on rental income from existing 30% to 50%. The National Housing and Habitat Policy, which has recommended an increase of the tax exemption limit after having been cleared by the Cabinet is likely to be tabled in Parliament. As the proposal deals with a taxation policy of the government, it is likely to be taken up in the Budget. According to government estimates, around 16 million houses in the country which are unoccupied will come into circulation. Last year, the government announced levy of service tax on commercial properties. If the proposal to increase the floor for tax concession on rental income goes through it can become a revenue neutral exercise for the Centre, a government official said. The official also said the move could encourage house owners to let out their properties, which lay vacant otherwise. It is estimated that crores will migrate to urban areas in the next decade as employment opportunities in the agriculture sector is decreasing by the day and rental housing is an appropriate way to accommodate a majority of the migrant population. According to experts, the move would see a substantial increase in end-user consumption of available properties. Shortage of houses in the urban areas is a major cause for concern.