Sale Tax News

Money

Date of acquisition for under-construction house a matter of debate

Few court rulings have considered the date of possession as the date of acquisition of the property

2 min read19 Nov 2018
Opinion

LTCG exemption on building new house tricky

Time limits differ for purchase and construction of new house to avail tax benefit on sale of old

3 min read25 Oct 2018
Money

STCG from property sale is taxable at slab rates, re-investment doesn’t give tax benefit

The current income tax laws do not provide any exemption from taxes in case of re-investment of STCG

2 min read1 Oct 2018
Opinion

When stamp duty is treated as sale price

Should buyers, sellers pay tax on difference between the sale price and stamp duty?

4 min read27 Sep 2018
Politics

Karnataka cuts fuel prices to add pressure on Centre

The government said that sales tax on petrol and diesel would be reduced to 28.75% and 17.73%, respectively

1 min read17 Sep 2018
Money

If property is held for over 24 months before sale, gains are taxable as LTCG

The difference between the net sale proceeds and indexed cost of acquisition and indexed cost of improvement is taxable as LTCG

2 min read17 Sep 2018
Industry

Govt rules out excise duty cut as petrol, diesel prices hit fresh high

While a cut in excise duty that the central govt levies will impact fiscal deficit, states like Bihar, Kerala and Punjab are not in a position to cut sales tax, says an official

5 min read10 Sep 2018
Money

Nature of plot and period of holding are needed to know taxability of transfer

It is possible for the taxpayer (buyer and/or seller) to claim that the fair market value of the property is genuinely lower than stamp duty value in certain circumstances

3 min read20 Aug 2018
Politics

Govt can reduce petrol price up to Rs25 but won’t do: Chidambaram

Congress leader P. Chidambaram says the bonanza to central government is Rs25 on every litre of petrol and this money rightfully belongs to the average consumer

2 min read23 May 2018
News

Donald Trump slams Amazon for paying ‘no taxes’

Donald Trump is seeking tougher regulations against Amazon, which now has a global presence, for paying 'no taxes' to state and local governments

2 min read31 Mar 2018
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