The last 4-5 years have not been the best period for the real estate industry in India. Many real estate companies have become bankrupt and many still continue to be under great financial stress due to stalled projects. Even a normal home buyer is not in a profitable position due to declining property rates. The Government is taking steps to uplift the Industry. Passing of ‘RERA’ or Real Estate (Regulation and Development) Act, 2016, bringing in various amendments in both direct and indirect taxation laws are some of the notable steps taken by the government.
Despite the stumbling real estate sector, the home buyers are still made to pay income tax on real estate transactions done by them even if such transaction is done at a loss!!! Yes, that’s true.
Following are the main causes of such unjustifiable tax-
Read more on: https://taxguru.in/income-tax/instances-tax-planning-case-sale-house-property.html
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