The I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...

Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...

The Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while failing to deliver homes. For the de...

India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...

A Bengaluru tech professional is experiencing significant financial stress after purchasing his first home. Despite a good salary, the home...

Manoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through t...

The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...

TDS 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...

Non-resident property transactions in India face compliance challenges, including obtaining TAN, depositing TDS, and filing e-TDS returns. ...

The 1% TDS applies on the purchase price or the stamp duty value, whichever is higher. This amendment proposed in Budget 2024, comes into e...

The government needs to facilitate ease of transacting and reduce compliance difficulties in buying property from NRIs. This is because a b...

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While purchasing property in India is an attractive proposition and a common investment option among the Indian diaspora, selling these ass...

TDS on the purchase of property from an NRI should be deducted from the sale value and the balance amount should be paid to the NRI seller.

NRIs selling house properties in India have to pay tax on the Capital Gains. The tax payable on the gains depends on whether it’s a short t...

If there’s no or wrongly deducted TDS, the I-T dept takes action- interests, penalties and imprisonment, against the buyer and not the non-...

TDS is to be deducted on the total amount paid to the seller, including service tax and other charges, and those for parking and amenities.