anil kumar

When you sell assets such as stocks, bonds, bullion and real estate, you are supposed to pay taxes — short-term and long-term — on the profit margin. This is known as the capital gains tax. For capital gains to be considered long-term, the period is three years for real estate assets and one year for equities. A seller also has to pay long-term capital gains tax on the property attained as a gift or in inheritance. In such cases, the cost of acquisition of property will be considered to be the price at which the previous owner bought the property. MakaanIQ on how to save long-term capital gains tax on property sale.

The Noida Authority would on December 13 launch the online bidding process for the sale of its 442 residential plots located across sectors 12, 31,33, 39, 47, 48, 49,51, 52, 55, 70, 72, 93B, 99, 100, 105 and 122. In a nine-day bidding process that would continue till December 21, each plot would be sold separately. A total of 505 people have applied for these plots since November 13 when the authority launched the scheme.

Here is a golden opportunity for those who are looking for government-owned properties in Uttar Pradesh capital Lucknow. In order to cut the losses it is making in the maintenance of its rented properties, residential as well as commercial, the Lucknow Development Authority (LDA) is planning to sell them. According to media reports, a total of 3,500 may be up for grabs in the LDA property auction, likely to take place in January. While 2,300 properties are residential structures, the remaining 1,200 are commercial set-ups.

For the Budget 2019-20, the SDMC has proposed to levy property tax on residential properties based on various category of colonies. The proposed rates for residential properties falling under categories A and B is 14 per cent, instead of 12 per cent. For categories C, D and E, the corporation has proposed property tax 12 per cent, instead of 11 per cent. For the F, G and H categories the property tax would be levied at eight per cent, instead of seven per cent.

The money market clause in home loan agreements gives banks the freedom to make changes in the contract if external factors force them to do so. This makes it incumbent upon a homebuyer, who is planning to buy a property through home loan to get a clear understanding of the term and how it works in the context of home loans. We explain the money market clause in the context of home loans and how it impacts a borrower.