Measures for promoting affordable housing While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley proposed to give 100% deduction for profits to an undertaking from a housing project for flats upto 30 sq. metres in four metro cities and 60 sq. metres in other cities, approved during… Read More »
Budget 2016 Tax Relief to Small Taxpayer Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000 100% Deduction of Profits for 3 out of 5 Years for Start-Ups withdrawal upto 40% of the Corpus to be Tax-Free at the time of Retirement Deduction of Additional Interest of Rs.50,000 Per Annum for First-Time Home buyers… Read More »
Issue Whether sale of business of firm as a going-concern to the company for a consideration of paid-up share capital amount to transfer liable to tax as capital gains? Held NO It is argued on behalf of the department before the Tribunal, for the first time, that in this case, on vesting of the properties… Read More »