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Posted in Chennai, For Rent, For Rent in Chennai, News, Property Management, Real Estate OnGovt seeks powers to levy GST on all rental income HIGHLIGHTS GST unlikely to be impoised on individuals renting out homes Currently, service tax is levied on rental income from commercial property only GST rate on housing is expected to be pegged at 18% Rent from residential premises may be exempted from GST. The government…
Read MoreTax incentive on second home misused, won’t extend it beyond Rs 2 lakh: Govt HIGHLIGHTS The Finance Bill 2017 restricts set-off of loss towards second home against other heads of income up to Rs 2L under Sec 71 of the I-T Act Currently, there is no such limit for set-off of loss from house property,…
Read MoreOwning a home is a keystone of wealth… both financial affluence and emotional security.