It also cannot be claimed, if the HUF of which you are a member, owns residential property at the same place where you reside. So, even if the property owned by the specified persons above is let-out, you still cannot claim the benefits for rent paid under section 80GG. You also ...
House Rent Allowance is applicable for salaried individuals under section 10 (13A) of the Income Tax Act in accordance with rule 2A of Income Tax rules. However, self-employed individuals are not applicable for HRA exemption under this rule. Under section 80GG of Income Tax Act, they can ava...
As we know if any Assesse is earning any rent income from the property the same will be taxable under the said Head. How such things are going? First of all, let’s Check out the Section Highlights. Section: 22 (Charging Section) Section: 23 (Computation of Annual Value) Section: 24 ...
For people who are employed and receive a regular salary, there is a provision in the Income Tax Act known as Section 10 (13A), rule number 2A, which allows them to claim tax exemptions for House Rent Allowance (HRA). Since HRA is a significant part of their salary, it’s essential f...
For example, Huai’an city and county should exempt the deed tax on first house purchases for rural households or provide substantial low-rent houses, which would facilitate in situ urbanization rather than population loss. In addition, restrictions on hukou, medical care, and education should be...
A real estate agent must have a professional license to sell, buy, or rent real estate. A realtor is a real estate agent who, besides being licensed, is a member of the National Association of Realtors. How Much Money Should I Have Before Buying a House?
Section 22 provides for taxation of ‘annual value’ of a property consisting of any buildings or lands appurtenant thereto, of which the assessee is owner, under the head “income from House Property”. Tax imposed under section 22 is a tax on `annual value’ of house property and is not...
The costs of selling a home start with home prep, followed by staging, marketing and likely concessions, plus the average closing costs of selling, 8%-10% of the sale price. Real estate fees for sellers add up fast.
markets the beach house during tourist season, executes lease agreements, and evicts non-paying tenants. Unfortunately, a good property manager isn’t cheap. Depending on the extent of services, most property managers charge 8% to 12% of the collected rent, which can quickly eat into profit m...
Online real estate platforms have become a popular and efficient means to rent, buy, and sell properties. Homeowners or agents upload photos and descriptions of properties to the site, and buyers can browse these property advertisements. A byproduct of this service is the creation of rich, spati...