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The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has issued Notification No. 16/2025 dated February 12, 2025, granting tax exemption to the Real Estate Regulatory Authority (RERA), Punjab u/s 10(46A) of the Income-tax Act, 1961. Under the notification, RERA Punjab (PAN: AAAJR1281N) has been acknowledged as an exempt entity for the […]
The Gujarat Real Estate Regulatory Authority (GujRERA) has introduced a fresh portal aligned with the RERA Act and GujRERA rules, ensuring precision in project reporting. This revamped platform is a reliable source for the Income Tax and GST departments, preventing developers from manipulating information to alter their tax obligations. Previously, developers exploited loopholes, submitting outdated […]
Now the government has given another relief to the homebuyers by ordering the builders to return the additional GST taken from them. The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has recently ordered this to builders community. But on the contradictory, it has ruled down the issues that the homebuyers can claim the input tax […]
The RERA was introduced in 2016 but became fully functional in 2017. All 92 provisions came into effect in May 2017. This was followed by the introduction of GST in July 2017. And with RERA and GST, India’s two long-awaited needs were fulfilled:
According to the recent data from the Centre for Monitoring Indian Economy (CMIE) has shown the biggest declines in the home loan growth.
Three major steps were taken by the government in previous year – the Real Estate (Regulation and Development) Act, 2016, Goods and Services Tax (GST), and Demonetisation.
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued two important notifications, No. 151/2025 and No. 152/2025, dated October 15, 2025. These notifications grant income tax exemptions to two entities: the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) and the Rajasthan State Seed and Organic Certification Agency (RSSOCA). Published […]
On 22nd June, the 53rd meeting of the GST council was conducted. To refine the tax rates and service exemptions under the GST regime, various recommendations were made in the meeting. Union Finance Minister Nirmala Sitharaman addressed the meeting and deliberated on distinct proposals to facilitate GST applicability for goods and services. Key Updates on […]
The sale of residential units of the project is not a sale of immovable property but a sale of services and GST is subject to be levied. Once, the GDA rejects the Completion Certificate to the applicant, the Completion Certificate cannot be stated to be considered approved, Uttar Pradesh Authority for Advance Ruling (AAR) ruled. […]
