HOUSE PROPERTY
She sold her house for Rs 2.7 crore to buy seven new flats and paid no income tax, wins case in ITAT Delhi; Know how
Saroj sold her Punjabi Bagh house for Rs 2.7 crore. She then bought seven apartments in Greater Noida. She reported Rs 5 lakh income in ITR and claimed Rs 2.2 crore LTCG tax exemption. The tax department partially denied the exemption. Then Saroj appealed to ITAT Delhi. ITAT Delhi ruled in her favor.
She owned 4 homes but sold them all to live on rent: Millionaire money coach shares how renting helped her get richer
Financial coach Bernadette Joy challenges the traditional belief that homeownership is essential for wealth. After owning four properties, she and her husband sold them to return to renting. The move helped them save on hidden costs, reduce stress, and invest more effectively. Joy’s experience highlights how renting can offer financial freedom, flexibility, and peace of mind—proving that wealth-building doesn’t always require owning property.
Taylor Swift and Travis Kelce’s wedding location is finally out; here’s where the couple may tie the knot
Reports by PageSix website suggest Taylor Swift and Travis Kelce are planning a summer wedding in Rhode Island, potentially at Swift's Watch Hill estate. While unconfirmed by the couple, the news has sparked local interest, especially given recent renovations to Swift's property and the state's new tax on high-value second homes. The event would significantly impact Westerly, raising questions about logistics and economics.
If you don’t make these 8 disclosures, your ITR may be treated as defective
Filing income tax returns (ITR) requires careful attention to detail, as certain omissions can lead to a defective ITR. Key disclosures include foreign assets, income, crypto transactions, and unlisted equity shares. Failing to report these details, especially for residents with overseas holdings, can result in penalties and even imprisonment, though some relief exists for movable assets under Rs 20 lakh.
Father sells house worth Rs 67 lakh and shows only Rs 1,690 income in ITR, wins case in ITAT Ahmedabad; Know how
Dilip, an Indian taxpayer, won a case at the ITAT Ahmedabad regarding a Section 54 LTCG tax exemption. Despite initially facing scrutiny for claiming Rs 15.99 lakh as indexed cost of improvement with cash payments and selling his house below stamp duty value, the ITAT directed the tax officer to verify and allow his claim. Read more.
How to file ITR if you have sold house or land in FY 2024-25
For AY 2025-26, individuals and HUFs selling property can save on capital gains by reinvesting in another property under Section 54/54F. Choosing the correct ITR form, like ITR-2 or ITR-3, is crucial. Depositing unutilized gains in the CGAS before filing the ITR is essential to avoid taxation. Taxpayers must report sale details and claim exemptions accurately in Schedule CG.
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Bill Pulte accused Fed Governor Lisa Cook of fraud. His relatives filed housing claims similar to hers
Relatives of Bill Pulte, head of a US housing agency, face scrutiny. Mark and Julie Pulte claimed tax breaks on homes in Michigan and Florida. Such breaks are for primary residences only. Michigan officials revoked the exemption after inquiry. Bill Pulte accused Lisa Cook of similar actions. Cook denies wrongdoing. The Pulte family has not commented on the matter.
Pisces Horoscope Today, 6th September 2025: Inner reflection brings peace and clarity
Pisces Daily Horoscope, 6th September 2025: With the Moon in the Aquarius sign, your focus shifts to solitude, healing, and quiet reflection. The Sun and Mercury in Leo highlight responsibilities at work, making it a busy yet productive day. Mars in Virgo emphasises partnerships and collaborations, while Venus in Cancer strengthens love, creativity, and emotional warmth. Saturn retrograde in your sign reminds you to go slow and review your long-term goals.
Russian tycoon Vladimir Potanin's ex-wife wins right to sue for £16 billion fortune in historic divorce case
Russian billionaire Vladimir Potanin’s ex-wife, Natalia Potanina, has won a major step in her long divorce battle. A UK court said she can sue in England for a share of his £15.7 billion fortune. The case is seen as historic and could become one of the biggest divorce settlements in the world.
UK's Yvette Cooper appointed foreign minister, Lammy named deputy PM
In Britain, Yvette Cooper has become the new foreign minister. She replaces David Lammy, who is now the deputy prime minister and justice minister. This change follows Angela Rayner's resignation. Shabana Mahmood will take over Cooper's previous role at the home office. The government has also appointed new ministers in other departments.
Angela Rayner: Remarkable rise and fall of UK's deputy PM
Angela Rayner, who resigned as deputy leader of the British government on Friday, was a rare working class champion in a country long dominated by a government disproportionally educated at private schools and Oxford and Cambridge universities. Many have compared Rayner with John Prescott, the long-time deputy of Labour's former prime minster Tony Blair, who also had a working-class background in northern England.
Shriram Properties aims Rs 500 cr revenue from 6.5-acre JV project in Bengaluru
Shriram Properties Limited has entered into a Joint Development Agreement to construct a premium residential project on a 6.5-acre land parcel in North Bengaluru. The project will feature a saleable area of approximately 0.6 million square feet, with an estimated gross development value of around Rs 500 crore. Shriram Properties has delivered 48 projects till now.
Justice Department probes mortgage fraud claims against Lisa Cook of Federal Reserve: Source
The Justice Department is investigating Federal Reserve Governor Lisa Cook for alleged mortgage fraud, stemming from a criminal referral regarding two properties she purchased in 2021. This probe coincides with Cook's legal challenge against President Trump's attempt to remove her, which she claims is an effort to undermine the Fed's independence.
Is paying rent really a waste? CA explains the middle-class trap and breaks down renting vs buying maths
Nitin Kaushik challenges the notion that renting is a waste of money. He argues home loans can be a bigger drain than people realize. Interest payments significantly increase the total cost of a home. Renting offers flexibility and liquidity. Buying too soon can leave families financially vulnerable. Kaushik advises careful financial planning before taking a home loan.
Big cheer for homebuyers! Homes may get cheaper with lower GST on cement
The government's decision to lower the GST on cement from 28% to 18%, effective September 22, 2025, is expected to reduce housing construction costs. Experts predict a 5-7% decrease in overall project expenses, particularly benefiting affordable and mid-income housing. Notably, cement is a crucial construction material, contributing between 10-12% of construction costs.
GST 2.0: A game-changer for Indian real estate
The forthcoming GST reforms, set to take effect on September 22, 2025, promise to deliver a significant boost to India’s residential, retail, and office real estate sectors.
Serviced residences surge as second home investments gain momentum in India
Serviced residences are becoming popular in Indian real estate. Demand is rising for second homes. Developers and investors are showing strong interest. Many are partnering with global hotel brands. This creates luxury living with hotel services. Goa shows high rental yields. Infrastructure upgrades are boosting property values. Remote work is also increasing demand.
Mumbai Housing Registrations Dip in August, But Remain at Record Highs YTD: Nuvama
Mumbai's housing registrations saw a minor decrease in August 2025 due to heavy rains. Registrations fell by 3% year-on-year. Despite this, it was the second-best August ever after 2024. Residential properties dominated demand. Western suburbs led regionally. Year-to-date registrations remain high. Nuvama anticipates sales to increase with new launches and potential rate cuts.
MUFG to launch $680 million Japan real estate fund
Mitsubishi UFJ Financial Group is set to launch a 100 billion yen real estate fund targeting underperforming assets in major Japanese cities. The fund aims to improve the attractiveness of mid-sized offices, residential properties, and hotels in Tokyo, Osaka, and Nagoya.
How to pay zero or lower income tax on your residential property sale using Sections 54 and 54F
Indian income tax laws offer exemptions on long-term capital gains (LTCG) from selling residential property and land. Sections 54 and 54F of the Income Tax Act allow individuals and HUFs to avoid LTCG tax by reinvesting the gains into a new residential property, subject to specific conditions and timelines for purchase or construction.
Jawaharlal Nehru's first official residence sold for Rs 1,100 crore
Jawaharlal Nehru's former residence on Motilal Nehru Marg is poised for a record-breaking residential sale. A businessman from the beverage industry is set to acquire the 14,973 square-metre property for approximately ₹1,100 crore. Due diligence is nearing completion, with a public notice issued to address any potential claims on the property owned by Raj Kumari Kackar and Bina Rani.
Karnataka: Property registration fee hike adds to inventory worries amid tepid June quarter sales
Karnataka's decision to double property registration fees to 2% is anticipated to negatively impact Bengaluru's housing market, already strained by affordability issues. Experts caution that this increase in transaction costs could weaken buyer sentiment, particularly affecting the mid- and affordable segments.
Puravankara secures redevelopment project in South Mumbai’s Malabar Hill
Puravankara has secured a Rs 2,700-crore project to redevelop a prime housing society in Mumbai's Malabar Hill, adding 7 lakh sq ft of development potential. This acquisition strengthens Puravankara's Mumbai portfolio, now totaling 4.25 million sq ft with a potential gross development value of Rs 10,500 crores.
Mumbai records highest-ever Jan–Aug realty registrations, fastest run towards 1-lakh mark
Mumbai's property market demonstrates strong performance in 2025, driven by demand for mid-income and luxury homes. The city achieved record property registrations and stamp duty revenue, surpassing previous peaks. Despite a slight dip in August due to heavy rains, developers are optimistic about increased activity during the upcoming festive season.
Inherited property taxation: Know how to save capital gains tax on sale of inherited property or land
Inheriting property doesn't trigger immediate taxes, but selling it does incur capital gains tax, with exceptions. Tax laws allow using the property's fair market value as of April 1, 2001, potentially lowering the tax burden. The cost of acquisition and holding period of the parent are carried forward, impacting the capital gains calculation upon sale.
Sanjeevini Group eyes Rs 1,200 cr revenue from new luxury housing project at Gunjur, Bengaluru
Sanjeevini Group anticipates a revenue of approximately Rs 1,200 crore from its newly launched luxury residential project, "The Adwaith," in Bengaluru. This project, spread across 8.3 acres in Gunjur, features 668 units and is developed under a joint development model. With units priced upwards of Rs 1.7 crore, the project is expected to be completed within 30 months.
Most expensive home in the US goes on sale; Price and luxury features will leave you stunned
Little Lake Lodge, a 74-acre Aspen estate owned by the Resnick family, has been listed for $300 million, making it the most expensive property in the U.S. The estate features 18 bedrooms, a private lake, and extensive trails, all within a mile of downtown Aspen. Its value is further enhanced by strict building size limits in Pitkin County.
Strong GDP growth in Q1 to boost property demand: Realtors
Real estate bodies CREDAI and NAREDCO anticipate increased property demand. This is due to the strong 7.8 percent GDP growth in the June quarter. The growth is expected to boost consumer and investor confidence. Farm sector and services contributed to the GDP growth. Realtors are also looking forward to GST reforms. India's economy is currently growing faster than China's.
Property prices rise in 45 of 50 cities in Q1 of FY26: NHB report
NHB data reveals that property prices in 45 out of 50 cities increased in the first quarter of 2025-26, with the 50-city Housing Price Index rising by 5.7%. Bengaluru saw the highest appreciation at 9.1%, while Howrah experienced the maximum decline at 6.1%. Home loan interest rates also moderated by 100 basis points in February 2025.
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