The Mumbai bench of Income Tax Appellate Tribunal on March 24, 2025 held that the allotment date and not registration date of a home determines the capital gains (long term or short term) for real estate property sale transactions.
Taking a joint home loan is a common practice among individuals looking to purchase a property. This approach not only helps in sharing the financial burden but also offers significant tax benefits under the Income Tax Act. But what if one of the co-borrowers loses job? Can you still claim full tax benefits on a joint home loan? Let us explore how tax benefits can be maximised even in such challenging situations.
The New Income Tax Bill 2025, which aims to replace the Income Tax Act 1961, seeks to simplify and simplify tax rules.
