Budget 2017 - 18: Three Cheers For property holders Capital Gains Tax Provisions..! By SNEHA SHARON MAMMEN , proptiger.com Three measures
announced by Finance Minister mr. Arun
Jaitley in his Budget 2017-18 have come as some good news for property holders. · The holding perio…
Showing posts with label Budget 2012-13. Show all posts
Showing posts with label Budget 2012-13. Show all posts
Union Budget 2012-13: Proposes change in IPO guidelines
The finance minister Mr. Pranab Mukherjee in his Budget speech announced a change in IPO (Initial Public offering) guidelines to increase participation in small towns.
Pranab also announced qualified FII (Forgein Institutional Investors) into corporate bonds.
A new schem…
Union Budget 2012-13 : Steel prices to rise by up to Rs. 1,000
In the Budget for 2012-13, finance minister Mr. Pranab Mukherjee had announced hike in excise and service tax rates by 2 per cent to 12 per cent each. The increase in excise rates have become effective from Saturday midnight.
The increase in excise duty rate from 10% to 1…
Union Budget 201-13: No rebate on investment in Infra Bonds
Taxpayers may have got some relief through the increase in the basic exemption limit and widening of the 20% tax slab, but the central government has taken away a crucial tax saving option.
Rs. 20,000 rebate
The budget for 2012-13 has not extended the Rs. 20,000 rebate (Se…
Union Budget 2012-13: Sctions of construction list of services exempted from the tax
The Finance Ministry has included sections of construction under the list of services exempted from the purview of tax on services.
The exemption, a part of a list of 22 items in the negative list, includes construction, repair and alteration of specified public infrastruc…
Union Budget 2012-13: Real estate Proposals and Impacts
Budget Proposal: Additional deduction (Section 80 CCF) for infrastructure bonds of Rs. 20,000 has not been extended beyond assessment year 2012-13 . Real Impact: Infra bonds will lose their attractiveness.
****##^^ Budget Proposal : Seller of immovable property (plot of land, …
Budget 2012-13: What's in it for the Indian real estate sector
Budget : What's in it for the Indian real estate sector..!
By Mr. Anish Sanghvi & Mr. Vishal S Shah , PwC India
The real estate sector has contributed only 5% of India's overall GDP this year as compared to a contribution of 10.6% in FY 2010-11.
With the lack of…
Union Budget 2012-13 : ECB for low cost affordable housing projects
Allowing developers to raise funds through ECB (external commercial borrowings) will provide an incentive to develop more low-cost housing projects.
Shortage of good low cost housing projects has been a problem. ECBs will
lower the cost of funding for developers & hope…
Union Budget 2012-13 : Capital gains tax from sale of agricultural land by HUF
Capital gains tax from sale of agricultural land
by a Hindu undivided family (HUF)
Capital gains on transfer of land which, in the 2 years preceding the year in which it has been sold, has been used for agricultural purposes by assessee or his/her parent, is exempt if the…
Union Budget 2012-13 : Relief from LGCG Tax tax on transfer of residential property
Relief from long term capital gains (LGCG) tax on transfer of residential property if invested in a manufacturing small or medium enterprise
The central Government had announced National Manufacturing Policy (NMP) in 2011, one of the goals of which is to incentivise invest…
Union Budget 2012-13 : Wealth Tax – Exemption of residential house allotted to employee
Under the existing provisions of section 2 of the Wealth-tax Act, the specified assets for the purpose of levy of wealth tax do not include a residential house allotted by a company to an employee or an officer or a whole time director if the gross annual salary of such em…
Union Budget 2012-13 : Tax incentive for funding of Infrastructure
Infrastructure Debt Fund..!
Section 115A of the Income Tax Act provides that any interest income received by any non-resident from the Government or an Indian concern shall be taxable at the rate of 20% on the gross amount of such interest income. The interest income receiv…
Union Budget 2012-13 : TDS On Transfer Of Immovable Properties
Tax Deduction at Source (TDS) on transfer of certain immovable properties (other than agricultural land)
Under the existing provisions of the Indian Income tax Act, tax is required to be deducted at source on certain specified payments made to residents by way of salary, i…
2012 - 13 Budget : Eligibility conditions for exempt life insurance policies
Under the existing provisions contained in section 10(10D) of the Income-tax Act, any sum received under a life insurance policy, including the sum allocated by way of bonus on such policy, is exempt. For this purpose, it is necessary that the premium payable for any of th…
Budget 2012 -13 : Deduction for expenditure on preventive health check-up
Under the existing provisions contained in section 80 D of the Income-tax Act, a deduction is allowed in respect of premium paid towards a health insurance policy for insurance of self, spouse and dependant children or any contribution made to the Central Government Health…
Budget 2012 - 2013: 1% TDS from the buyer on cash purchases of jewellery
Proposal: An additional tax of 1% will be collected at source from the buyer on cash purchases of jewellery, bullion, etc, if value exceeds Rs. 2 lakh. Impact:
While this is intended to track the cash transactions in the jewellery / bullion market, additional tax levy would …
2012-13 Union Budget : Pros And Cons for Indian Real Estate Sector
Union Budget : Pros And Cons By Mr. Anuj Puri, JLL India
Our reaction to Union Budget 2012-13 is mixed at best. It seems fair to state that the Indian real estate sector does not have much to cheer about. 1% tax rebate for housing loans..!
To begin with, it is difficult to s…
Union Budget 2012 -13 : Cement prices to go up by Rs. 8
Indian cement manufacturing companies on Friday said the excise duty hike of about 2% will result in price increase of nearly Rs. 7 to Rs. 8 per 50 kg bag. Most companies will look at passing the hike to consumers since this is the peak season for the industry.
The real es…
2012 - 13 Budget : New Tax Slabs
MALES - 2012 - 13 Budget Exemption up to Rs 2 lakh for taxpayers. The upper limit of 20% tax slab raised to Rs 10 lakh . TAX RATE NOW POST BUDGET Nil 1.8 lakh 2.0 lakh 10% 1.8 to 5 lakh 2 to 5 lakh 20% 5 to 8 lakh 5 to 10 lakh 30% Above 8 lakh Above 10 lakh FEMALES Exemption up to Rs 2 lak…
2012 - 13 Budget: 1% rate rebate on housing loan extended for a year
2012 - 13 Budget : Retains 1% interest rate subsidy for loans towards affordable housing
The Indian housing finance sector has been one of the biggest gainers in the Union budget 2012 - 13.
The proposals not only encourage potential buyers of low cost houses, But also pers…
