NDMC AREA PROPERTY TAX
Buying property costing between Rs 20 lakh and Rs 45 lakh without a PAN? You must use new Form 97, says Income Tax Department
The Income Tax Department has introduced a new Form 97, replacing Form 60, for individuals without a PAN card undertaking specific transactions. This includes buying property above the specified value, opening bank accounts, and making certain cash payments. The revamped forms aim to simplify compliance, with reduced reporting expected for these declarations.
Bangkok issues high tide alert: What tourists should know as river levels rise
Bangkok faces a high tide alert along the Chao Phraya River. Authorities warn of potential flooding in low-lying areas and key roads as water levels are set to peak Monday. Strong winds are pushing water towards river mouths, increasing overflow risks. Saltwater intrusion is also a concern. Residents are advised to stay vigilant as the alert continues until Tuesday.
Rs 1.6 crore for 1BHK! Viral property video tour shows Mumbai’s harsh housing reality
A viral video showcasing a compact Mumbai apartment for ₹1.6 crore has sparked widespread debate. While many expressed shock at the price for the small space, others defended its prime location and sea view. The clip highlights Mumbai's challenging housing market, where space comes at a significant premium, prompting discussions about affordability and urban living.
Is tax clearance mandatory before foreign travel? What the Income-Tax Act, 2025 says
The introduction of Form 157 and Form 159 under the Income-Tax Rules, 2026 has sparked confusion over whether tax clearance is now mandatory for all Indians travelling abroad. However, a closer reading of Section 420 of the Income-Tax Act, 2025—read with Section 536 and CBDT Instruction No. 1/2004—makes it clear that no such blanket requirement exists.
Direct vs indirect taxes: Key differences and how they impact taxpayers and prices in India
If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 99th part of this series, Riju Mehta explains the difference between the two types of taxes.
Hidden risks in mortgaged properties: Essential due diligence steps for safe buying
A Supreme Court ruling in 2025 favored a land buyer who was defrauded by a seller concealing an existing mortgage. The court affirmed that buyers are entitled to a full refund of their deposit when sellers fraudulently hide property encumbrances. This case underscores the importance of thorough due diligence for property buyers.
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Capital gains from property sale? How to balance tax saving with long-term wealth creation
Investors selling property face a choice: reinvest for tax savings or maximize long-term wealth. Financial expert Shweta Jain advises a balanced approach for a 10-year horizon, suggesting a mix of high-growth equities and stable instruments. While reinvesting in property offers tax benefits, it limits liquidity. Diversification is key for optimal returns and financial flexibility.
Share buybacks not ‘income’, can’t face I-T levy: Delhi High Court
The Delhi High Court ruled that companies buying back shares below fair market value do not incur taxable income. The court distinguished share buybacks as capital reduction, not asset acquisition. This decision offers significant relief to companies, potentially lowering the cost of share repurchases and clarifying tax implications for such corporate restructurings.
Allahabad HC stays demolition of 48 properties in Auraiya, seeks state's response
The Allahabad High Court has halted the demolition of 48 homes and shops in Auraiya's Dibiyapur, ordering a status quo on the disputed properties. A bench will hear the case on April 29, demanding the state file its response within a week. Petitioners claim their documents were ignored, risking irreparable harm. The court seeks a detailed counter-affidavit from the government.
Adani Properties to invest Rs 1 lakh cr to redevelop Mumbai’s 143-acre Motilal Nagar
Adani Properties will invest over Rs 1 lakh crore to redevelop Mumbai's Motilal Nagar, a 143-acre project set to become the second-largest urban renewal initiative in India. This decade-long project will rehabilitate over 3,700 residential and 300 commercial occupants, alongside slum dwellers, and will feature a mixed-use township with extensive public amenities and infrastructure upgrades.
New discovery solves mystery of location of Shakespeare's London house
A newly discovered 17th-century map has pinpointed the exact location of William Shakespeare's only purchased home in London, near the Blackfriars Theatre. This significant find, unearthed by scholar Lucy Munro, offers new insights into the Bard's life in the capital and where he may have written his final plays.
'I need a place I can call home': Bengaluru woman, 31, earning Rs 2.6 lakhs per month, wonders if she can afford Rs 2.3 crore home
A Bengaluru woman's query about affording a 2.3 crore home highlights a common dilemma for high earners. Despite a strong income and savings, job security fears and the desire for a personal space create uncertainty. Online reactions are divided, with some advising caution and others encouraging the purchase for future financial growth.
Property partition after owner’s death: A guide for legal heirs to divide assets
Partition of a property means the legal division of jointly owned property among co-owners or legal heirs, severing joint occupancy into individual shares. Now you can either do partition of the family property amicably via a registered partition deed or through a civil court by filing a partition case if property disputes arise, resulting in each heir getting a defined portion.
Census 2027: Self-enumeration starts in Gurgaon, Chandigarh, Faridabad; Here's how to register via se.census.gov.in and finish the process online
The self-enumeration phase of Census 2027 house listing begins today (April 16) in Haryana (including Gurgaon and Faridabad), Chandigarh, Madhya Pradesh, Andhra Pradesh, Arunachal Pradesh and Chhattisgarh. Residents can submit household details online till April 30. Door-to-door verification will follow from May 1 to May 30.
West Asia crisis hits Dubai real estate: Will it boost high-end luxury property investment in India?
Dubai's property market is experiencing a slowdown due to regional geopolitical tensions. This is causing investors to look towards India for real estate opportunities. Cities like Gurugram and Mumbai are seeing steady demand for luxury housing. India's market offers stability and long-term growth potential. This shift highlights India's growing importance in global real estate investment.
Madras HC seeks I-T report in Udhayanidhi Stalin poll affidavit 'discrepancies' case
The Madras High Court has asked the Income Tax Department for a report. This is regarding alleged differences in poll affidavits filed by Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin. A petitioner claims over Rs 7 crore in investments disappeared between affidavits. The court will hear the case again on April 20. Elections are scheduled for April 23.
Property tax overhaul in NDMC: What the new Unit Area System means for you
The New Delhi Municipal Council is adopting a new property tax system. This move to the Unit Area Method will bring fairness and predictability for property owners. The old rateable value method, which was subjective, is being replaced. Homeowners can now understand and verify their tax liabilities more easily.
Property or problem? The hidden legal traps haunting India’s property owners: Here’s how to navigate
Property ownership in India, once a symbol of security, now presents significant legal challenges due to unclear titles and disputes. Buyers face risks from historical discrepancies and competing claims, locking capital and stalling income. Proactive legal due diligence, careful transaction structuring, and understanding tenant rights are crucial for navigating these complexities and protecting valuable assets.
2026 Property Tax Deadlines: What every US homeowner needs to know - Check how to file a protest to challenge appraisal
The 2026 property tax season is crucial for US homeowners, especially in Texas, to review valuations and meet strict protest deadlines. Most must file by May 15 or within 30 days of receiving their notice. Appraisal districts determine property values, while separate authorities set tax rates. Homeowners can challenge assessments by filing a Notice of Protest, submitting evidence, and attending hearings, potentially reducing their tax burden through a successful appeal.
New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statement
The Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form simplifies TDS filing for various transactions including rent, property purchase, professional payments, and virtual digital asset transfers. It aims to enhance clarity and reduce duplication in reporting.
Think your luxury house is an asset? CA warns and calls it a 'subscription fee to live'
A chartered accountant challenges the notion that expensive homes are wealth-building assets. He argues that high recurring costs and significant opportunity costs, estimated at ₹1.75 crore annually for a ₹15 crore property, transform luxury homes into costly lifestyle choices. True wealth, he asserts, stems from income-generating assets, not those that merely consume capital.
Noida protest: Massive traffic jam leaves office goers frustrated, ask 'Bhai ye kaisa salary hike discussion hai?'
Noida protest today: On Monday, a massive protest by factory workers in Noida turned violent, with agitators vandalising vehicles and throwing stones. Commuters were stuck in a traffic jam for hours due to the protest and many frustrated office goers took to X to vent out their anger. One of the netizens asked what kind of salary discussion this is, and the other one called the protest unethical.
Buying agricultural land near a city? Key income tax rules you must know
An ITAT ruling clarified that stamp duty valuation doesn't define agricultural land status for income tax. The tribunal emphasized that official revenue records, actual cultivation, and lack of formal conversion are key factors. This decision protects buyers from tax additions based solely on higher urban land stamp duty rates.
Census 2027: Self-enumeration facility availed by 5.72 lakh households so far in first phase
More than 5.72 lakh households have embraced digital self-enumeration for Census 2027. This initiative allows citizens to provide details online, a faster and convenient method. The self-enumeration facility is available in select states and Union Territories. The Census 2027, a massive exercise, has begun with a 15-day digital window.
HNIs eye Greece residency as alternative to Dubai option
Affluent Indians are increasingly eyeing Greece as a destination for permanent residency. The motivations behind this trend include evolving geopolitics and a more accessible investment threshold than many European counterparts. Greece not only allows for visa-free access to the Schengen zone but also boasts a robust legal framework.
Deposited Rs 80 lakh cash during demonetisation: ITAT rejects property purchase claim, calls it unexplained income
A Surat businessman's Rs 80 lakh cash deposit during demonetisation was deemed unexplained by ITAT Surat. The tribunal rejected his claim of withdrawing funds for a property deal. The court found his explanation lacked evidence and defied normal business conduct. The businessman's appeal was dismissed, upholding the tax department's action.
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