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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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Tamilnadu Housing Board : 50 apartments under legal scanner

TNHB (amil Nadu Housing Board) has approved about 0 apartments has caught under the legal probe. The redevelopment plans has been promoted by the TNHB located in the following areas, Adyar, Anna Nagar & Shanthi Colony. However, there are already numerous building have …

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Budget Properties Expo: March 24 - 25, 2012, Ambattur, Chennai

Now a  days Tamilnadu capital Chennai is expanding in a big way & Greater Chennai is evolving.  As a result and as a part of Greater Chennai, the suburbs are being largely developed as alternative / rather ultimate dwelling areas. In such a situation, up to Chengalpattu …

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