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TAX IMPLICATIONS FOR HOMEOWNERS
Credit scores drop amid loan payment struggles: Is rising student loan and mortgage delinquency hurting U.S. borrowers in 2026?The average U.S. credit score fell to 714 in October 2025. This fresh data highlights a worrying shift in consumer finances. Credit scores ...- Filing for 2026? Key tax changes you need to know to get the biggest refundThe 2026 tax season begins January 26 with historic changes. Paper checks are officially dead; direct deposit is now mandatory for fast ref...
- Got more carpet area after property redevelopment? No income tax on extra carpet area if it meets a key conditionHomeowners can avoid income tax on additional carpet area received through property redevelopment. This is possible under Section 54 of the...
- Homeowners, not housing society, must pay capital gains tax on sale of development rights to builders, rules ITAT MumbaiThe Income Tax Appellate Tribunal Mumbai has ruled that individual homeowners are liable for capital gains tax when their housing society s...
- She sold her house for Rs 2.7 crore to buy seven new flats and paid no income tax, wins case in ITAT Delhi; Know howSaroj sold her Punjabi Bagh house for Rs 2.7 crore. She then bought seven apartments in Greater Noida. She reported Rs 5 lakh income in ITR...
- Owning bigger apartment means higher maintenance payment? Here's what Bombay High Court saysBombay High Court ruled on apartment maintenance fees. Larger apartments will now pay a bigger share. This decision came after a legal chal...
- Wife gets tax notice for husband’s Rs 6.75 crore Mumbai house purchase; Bombay High Court gives relief to wifeThe Bombay High Court gave relief to a wife from a tax notice related to a Rs 6.75-crore property, as her husband solely funded the purchas...
- Deadly Legionnaire’s disease outbreak in New York kills 3 and symptoms are similar to Covid. How you can protect yourselfLegionnaires' disease has struck New York City, resulting in three deaths and over 600 illnesses. Health officials are investigating a clus...
- 90 crore tax deduction approved! Delhi HC allows 54F income tax deduction for buying multiple floors! Here's what it means for youIn a decision bringing clarity to Section 54F deductions under the Income Tax Act, the Delhi High Court has clarified that owning multiple ...
- Husband wife duo wins Rs 1.3 crore long term capital gains tax exemption case under Section 54 despite selling two houses to buy a joint property; ITAT Mumbai caseThe ITAT Mumbai ruled that a wife is eligible for a Rs 1.3 crore Section 54 LTCG tax exemption on a property sale, even though the new prop...
- Big relief for flat owners: No income tax payable if you get a new flat in exchange for old, rules Mumbai ITATA recent Mumbai ITAT ruling offers relief to homeowners in redevelopment projects. The tribunal held that receiving a new flat in exchange ...
- Is 18% GST levied on maintenance amount when housing society is managed by builder?GST on house maintenance is needed to be paid by those who are paying more than Rs 7,500 per month and the RWA's turnover is more than Rs 2...
- NOT Trump, H-1B, layoffs or jobs. US no longer attractive destination even for techies for another reason, warns CARising U.S. living expenses, particularly rent, are impacting the financial benefits for Indian IT professionals migrating to America. Char...
- New share buyback rules from October 1, 2024: A higher tax for many, but these people will gainNew equity buyback rules: Budget 2024 amended the income tax laws on how share buybacks are taxed. The new laws announced in July will be e...
- Is gift deed a tax-efficient way to transfer assets to legal heirs?Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
- Canada's tax-free incentives for first time home-buyers: international students, foreign workers are eligible tooThe initiative aims to make homeownership more accessible and support newcomers in establishing themselves in the country. The eligibility ...
- What is the tax liability of buying a second house using a home loan?"Income from house property is taxable once the taxpayer gets possession of the property."
- Financial woes of owning a house & how to cope with them!Home buying is more than just an investment for most people.
- Pyramid Infratech told to pass on input tax benefit to homebuyersNAPA held that the Gurgaon-based developer shall reduce the price to be realised from all buyers — and not just appellants — in commensurat...
- Whose house is it anyway?Kala Seetharam Sridhar: We need to have enlightened local governments, regulators and homebuyers for better homes and better quality of liv...
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