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TDS ON FLATS
Homebuyer paid for a flat in a Delhi housing society in 2003, got delayed possession, sought compensation for delay; SC defends his rightThe SC said that the homebuyer can make a claim for compensation for delayed possession. “The subsequent receipt of possession cannot, by i...- Didn’t report FD interest in your ITR? Here’s how you can still correct the mistakeMissed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it. The Income Tax Department receiv...
- Mumbai IT professional claims Rs 3.91 lakh TDS, gets only Rs 79,000 and Rs 3.36 lakh tax demand as employer failed to deposit tax; here's what happened nextITAT Mumbai found that full TDS credit has not been granted since assessee’s employer has deducted TDS but has not remitted the same to the...
- NRE vs NRO income tax rules: How these NRIs, OCIs can save up to Rs 20,500 on $10,000 FD investmentNRIs can significantly reduce tax on NRE deposits in India, as this income is tax-exempt. While NRO account interest is taxable in India, N...
- Has Form 168 replaced Form 26AS for FY 25-26? Here's what taxpayers need to know for ITR filingForm 168: The Income Tax Department has unveiled Form 168, a comprehensive upgrade to the Annual Information Statement, effectively superse...
- Tokenised gold: A new way to invest in gold or a risky bet? What Indian investors need to know before investingTokenised gold is emerging as a new investment option in India. It uses blockchain to represent physical gold digitally. Investors can trad...
- Booked flat for Rs 24 lakh in 2010, paid Rs 40 lakh over time, still no possession in 2026; homebuyers awarded full refund and Rs 2.5 lakh compensation eachThe case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society project initially proposed in Noi...
- What crypto investors need to know for tax season 2026India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...
- Booked flats in 2005, still awaiting possession: Builder ordered to pay 10.05% interest to homebuyers for nearly 20-year delayThe Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while failing to deliver homes. For the de...
- How new online gaming rules will change your income tax and legal exposure depending on the kind of game you playAn online game is any game played on a phone, laptop, or digital device, operated through software using the internet or any form of electr...
- I am an NRI and I have inherited property in India. Can I sell it from abroad and what will be the tax implications?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.
- Don’t forget to deduct TDS before buying property even if the seller is NRI as buyer will risk being labelled as tax evaderTDS on house property: The Income Tax Department said to follow Section 194 IA which relates to Tax Deducted at Source (TDS) on buying a ho...
- Investors, foreign travellers to get more cash in hand as Budget 2025 hikes TDS, TCS limitsBudget 2025 has proposed higher thresholds for tax deducted at source (TDS) and tax collected at source (TCS). The new thresholds will aid ...
- Budget 2024: Why crypto F&O investors are happy - No STT, no TDS, no 30% taxBudget 2024: Crypto future and options investors are happy because the budget did not impose any TDS, STT and neither section 115BBH (30% t...
- The impact of India's 1% TDS on Virtual Digital Assets: A call for reformIndia's 1% TDS and 30% tax on VDAs led to a 97% trading volume drop, 81% user decline, and migration to offshore exchanges. NALSAR and Meya...
- Paying rent less than Rs 50K but sharing flat with others? You could be liable to deduct TDSIf a tenant is paying an rent of more than Rs 50,000 to his/her Indian resident landlord then TDS must be deducted. However in case a flat ...
- What are the tax implications, restrictions on withdrawals from NPS Tier II?Tier II is an add-on account which provides the flexibility to invest and withdraw anytime. The official documents do not explicitly mentio...
- Buying non-resident’s flat involves TDS risksIf there’s no or wrongly deducted TDS, the I-T dept takes action- interests, penalties and imprisonment, against the buyer and not the non-...
- Tax queries: Contact employer to get Form 16 error rectifiedDilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- Q&A: TaxesIT law does not prohibit from paying rent to parents; if one is actually actually paying rent to parents then he/she is eligible to claim H...
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