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Long term is tax free if sold through recognized stock exchange. Short term is taxed at lower rates of 15% . Stock-in-trade is taxed at higher rates than capital gains. Therefore, many tax payers are resorting to capital gains rather business income. Many convert their holding as stock in trade as capital asset and then [...]
The Finance Bill 2010 has received presidential assent on 8th May 2010 and therefore a new chapter in taxing flat sale has started .In the definition of the taxable services of ‘Construction of Complex service’ [section 65 (105) (zzzh)], and ‘Commercial or industrial construction service’ [section 65 (105) (zzq)] given in the Finance Act 1994 now stipulates that construction of house (in any form – apartment / flat / row house / etc) by a builder in a complex is a “service”, and introduced the service tax of 10.3% on such a services .
I am a employee in a pvt. ltd. co in Pune and have property jointly held with my wife.There is no home loan and I want to let our this property & receive rent in my wife’s name. The Leave & License Agreement will be on my wife’s name.She is a housewife and doesn’t have...
Deduction u/s 80E of the Income Tax Act is allowed to individuals who takes education loans for … [Read More...]
The proposal of Cyprus government to impose a 7.5% tax on all money kept in fixed deposits in the … [Read More...]
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