The Goods and Services Tax (GST) significantly affects residential property. GST applies only to under-construction properties; the sale of completed (ready-to-move-in) flats with an occupancy certificate is exempt. For under-construction apartments, the applicable GST rate depends on whether the unit qualifies as affordable housing under Indian GST rules.
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Stay informed with the latest tax news, expert analysis, and practical tips to help you navigate the ever-changing world of taxation in India.
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Contact UsAlternative Investment Funds (AIFs) in India: A Comprehensive Guide
Alternative Investment Funds (AIFs) in India are privately pooled investment vehicles, regulated by the Securities and Exchange Board of India (SEBI). SEBI defines an AIF as a fund established or incorporated in India that collects funds from Indian or foreign investors to invest according to a defined policy for the benefit of its investors.
How to Handle an Income Tax Notice: Steps and Best Practices
Receiving an income tax notice in India (often called an IT notice) can be unsettling, but it is a common part of tax administration. These notices can range from a simple request for additional information or clarification to more serious concerns, such as discrepancies in tax returns, audit actions, or demands for outstanding tax dues.