Purchasing a home with a loan can lead to significant income tax deductions, available under sections 80C, 24, 80EE, and 80EEA of the Income Tax Act, 1961. Understanding these can help homebuyers optimise savings 1. Section 80C: Covers: Principal repayment, registration, and stamp duty. Limit: Up to ₹1.5 lakhs/year. Eligibility: Applies to self-occupied, rented, or deemed-to-be-rented...
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Renting property in Mumbai, especially in areas like Bandra, Juhu, South Mumbai, and Powai, often exceeds Rs. 50,000 per month. With this, tenants must understand the obligation to deduct TDS under the Income Tax Act. Failing to comply can result in penalties and legal consequences for both landlords and tenants. Here’s a breakdown of how TDS applies to rental payments: 1. Understanding TDS on Rent...
by one stop realty 
Introduction Gifting property is a thoughtful gesture, often shared among family members in India. However, it's not as simple as handing over the keys—there are critical legal and financial factors to consider. This guide covers everything you need to know about stamp duty and tax implications for gifting property, helping you make an informed decision. What is a Gift Deed? A gift...
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