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I am paying EMI for a Rs 30 lakh home loan. Will I have to pay tax if I sell the flat?

Rent free house salary perk will be taxed differently from today: New CBDT rules

The new rules are notified by the Central Board of Direct Taxes (CBDT) on August 18, 2023 and became effective from September 1, 2023 i.e., today. The new rules provide for inflation adjusted rental value of house certain conditions. Read on to know about the new tax rules and how they will impact your TDS and salary.

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Understanding the tax implications on sale of property

When calculating capital gains on the sale of an immovable property, one crucial factor to consider is the cost of acquisition, which includes expenses of a capital nature incurred in connection with the purchase or completion of the property s title

Final Cost Inflation Index for FY24 to be fixed at 348

“This notification shall come into force with effect from the 1st day of April 2024 and shall, accordingly, apply in relation to the assessment year 2024-25 and subsequent assessment years” According to the Central Board of Direct Taxes (CBDT) notification. Cost Inflation index is used for calculating long-term capital gains arising from sale of immovable property, securities and jewellery after adjusting inflation when they file income tax returns (ITR) next year.