In order to give more clarity on the reliefs granted to the realty sector, the GST Council’s next meeting will be held on 19th March through video conference. The meeting is expected to finalize the

The Department of Revenue’s Tax Research Unit (TRU) has recently clarified certain issues raised by Confederation of Real Estate Developers’ Associations of India (CREDAI) to enable availing 8% Goods & Services Tax ( GST ) on

The 33rd Goods and Services Tax ( GST ) Council meeting in New Delhi has made some important decisions regarding the real estate sector. Reportedly, the Council has approved the lowest rate of 1% tax

In a relief to middle-class people, the Union Finance Minister in Budget 2020 has proposed an additional deduction up to Rs. 1.5 lakhs for Interest paid on Loans taken for an affordable house extended till

The Real Estate sectors hopes for GST revision to boost affordable housing in the upcoming Union Budget. To fulfil the government’s vision of ‘Housing for All,’ experts and industry leaders have shared their insights, proposing

The Group of Ministers (GoM), under Gujarat deputy chief minister Nitin Patel, was set up last month to analyze tax rates and issues/challenges being faced by the real estate sector under the Goods and Services

The Union Budget 2021 presented by Finance Minister Nirmala Sitharaman has proposed the Tax Incentives for Affordable Housing and Affordable Rental Housing Project. The Finance Minister said that, In order to incentivise purchase of affordable

The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and  Rs. 5 crore and above is proposed to be increased by around 3

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) granted the Income Tax Exemption to Maharashtra Housing and Area Development Authority (MHADA) as its activity of providing Affordable Housing is charitable in nature. The assessee

The Gujarat Authority of Advance ruling (AAR) ruled that the benefit of the reduced rate as provided under Entry Number 3(v)(da) of the Notification No.11/2017-Central Tax (Rate) as amended by Notification No.01/2018-Central Tax (Rate) dated

A Division Bench of the Bombay High Court has recently set aside the denial of income tax deduction under Section 80-IB(10) of the Income Tax Act, 1961 merely on ground of subsequent changes in building

The Authority for Advance Rulings (AAR), Maharashtra has ruled that 12% GST (8% GST after deducting the value of land) would be levied in case of Affordable Housing Project. The authority clarified that if the

The Karnataka Authority of Advance Ruling (AAR) ruled that 18% GST is payable on Construction services for projects which are affordable housing projects and are given the infrastructure status. The applicant, M/s Starworth Infrastructure and

If you are looking to buy an affordable house by taking a home loan, this is the right time to apply and get your loan sanctioned before March 31, or else you will loose benefit

The GST Council in the 34th meeting held on 19th March 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST