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TAX NOTICE FOR PROPERTY RENT
Man sells property for Rs 48 lakh, constructs a new house but faces delay, income tax dept denies Section 54 claim; he fights and wins case in ITAT ChennaiA Chennai resident successfully reclaimed his Section 54 tax exemption after a three-year construction delay on his new home, initially den...
ITR filing for NRIs: From miscounted days in India to missed NRO interest, these mistakes can trigger tax noticesMiscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.
Income tax department slaps notices on foreign investors with no earningsForeign investors are receiving unexpected tax notices in India, even for transactions where no profit or dividend was earned. The tax depa...
Govt scraps TDS on GIFT City aircraft lease rentalsAirlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move a...
Rs 17 lakh income tax refund claim was denied as taxpayer did not e-verify ITR since he was busy taking care of late father; ITAT Delhi allows refund for this reasonA Delhi landlord, busy caring for his ailing father, missed the deadline to e-verify his income tax return, leading to a denied Rs 17 lakh ...
He could easily afford a 2BHK but chose to rent. 2 years later, a sudden incident made him realise the true cost of rental housesA techie's housing experience has reignited the long-running debate over renting versus buying a home after an investor shared how the empl...
Techie served 15-day notice to vacate rented flat, sparks owning vs renting debateA finance professional's account of a friend forced to vacate a rented flat with just 15 days' notice, despite being financially capable of...
Landlord entitled to higher rent if tenant overstays even after seeking more time to vacate property in this situationDelhi High Court ruled that tenants overstaying their lease must pay increased rent as per the agreement, even if they temporarily requeste...
Can you get an Income Tax notice despite TDS deductions? Here's exactly why it happens and what you can do next
Property management platform Crib acquires rent financing company CirclePeCrib, a property management platform for co-living spaces, has acquired rent financing company CirclePe. This strategic move integrates emb...
Paying rent with a credit card: What's the trick that saves you money & mistake that costs you double
“I could not imagine living back in the US full-time”: Family leaves New York, buys $13,000 home in Italy and later purchases a second propertyA New York family found an unexpected escape in rural Italy, purchasing a home for a mere $13,000. This move not only granted them mortgage...
Delhi Gymkhana Club served show cause notice in eviction proceedings; asked to explain why it should not be evicted by July 7The Union Government has escalated eviction proceedings against the Delhi Gymkhana Club, issuing a show cause notice under the Public Premi...
Filing ITR? Here's what AIS and Form 26AS tell the income tax department about youAs taxpayers gear up for ITR filing in AY 2026-27, understanding the consolidated Form 168 (formerly AIS and Form 26AS) is crucial. This un...
ITR filing season AY 2026-27: Received Section 143(2) notice for AY 2025-26? What it means and how to respondAs Section 143(2) scrutiny notices for AY 2025-26 reach taxpayers during the ITR filing season for AY 2026-27, this article explains why ta...
What should Dubai residents know about new ‘flexi rent’ plan that will allow tenants to pay monthlyDubai is revolutionizing its rental system with the 'Flexi Rent' program, allowing tenants to pay rent in monthly, quarterly, or semi-annua...
Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...