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Income-tax Act 1961

Claim Deduction of Home Loan Interest from Employer

In the recent past, salaried employees have shown keen interest in taking advantage of the tax provisions by making investment in the residential house property. lt is very well known fact that salaried employee like any other tax payer were to construct a residential house property or were to buy a residential house property by […]

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Finance (No. 2) Bill 2014: Amendments in Real Estate (Part II)

The Finance (2) Bill 2014 contains may of amendments to the Income-tax Act, 1961 specially with reference to the Real Estate Sector. The Finance Minister has proposed hundred new cities and urban development through the concept of Public Private Partnership. It is expected that this type of announcement by the Finance Minister will make a […]

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Budget 2014: Important amendments to remember (Part II)

This is the second part of the article highlighting major amendments that will impact the tax-payers directly. TDS on Life Insurance Policy A new section 194DA is proposed to be inserted in the Income-tax Act whereby TDS at the rate of 2 per cent is to be deducted at source in respect of the amount […]

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Budget 2014: Important amendments to remember (Part I)

The Union Budget 2014 announced a slew of reforms related to income tax. In this article, I have tried to highlight some major amendments that will impact the tax-payers directly. Amendments in Capital Gain Bonds The existing provision contained in section 54EC of the Income-tax Act provides that where the Capital Gains arises from the […]

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Budget 2014: Suggested Amendments in the Real Estate Sector

Real Estate Sector happens to be one of the very important sectors for the overall prosperity, employment etc. in the country. Moreover, a new Government has taken a very pragmatic view of providing housing to all may be in the next eight to ten years. Under this situation it is very important that the new […]

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