Madras High Court rules on non-furnishing of income tax return attracting prosecution under Section 276CC
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| The Madras High Court has provided a ruling on the initiation of prosecution under Section 276CC of the Income Tax Act for failure to file a return of income. The court held that genuine taxpayers who file returns belatedly or have paid substantial amounts of their tax dues are protected by the proviso of Section 276CC. In the specific case, the taxpayer had paid taxes amounting to Rs. 23,75,066, exceeding the total tax and interest payable of Rs. 23,74,610, thus being rescued from prosecution. It is advised to assess each case individually to determine the applicability of the prosecution provision. |
The Benefits and Considerations of Debt Consolidation
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| Debt consolidation refers to combining multiple debts into a single loan or repayment plan, making it easier to manage and repay debt. Consolidated loans often come with lower interest rates and longer repayment tenures. Before opting for debt consolidation, individuals should assess their total outstanding debt, consider their credit score and eligibility, evaluate interest rates and fees, assess loan tenure and repayment, and commit to disciplined financial habits. Seeking advice from experts can help determine if debt consolidation is a suitable option for effective debt management and financial stability. |
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| Housing.com has introduced an AI-driven Price Trend Engine that utilizes ML and AI to provide users with pricing data and insights for buying, selling, or renting properties. The feature, currently available in Mumbai, Gurugram, Bengaluru, and Hyderabad, uses Housing.com’s proprietary algorithm to offer current market prices and detailed analysis of price movements. Users can gain an in-depth understanding of price dynamics in specific neighborhoods and make comparisons with adjacent areas. The tool aims to help users predict price appreciation and align their financial planning with home purchasing timelines. |
Tips for Making a Smart Real Estate Investment
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| When it comes to real estate investment, choosing the right property is crucial for financial success. It’s important to set a realistic budget, explore available properties through digital research, evaluate the neighborhood, research property values and market conditions, understand registration and stamp duty costs, obtain pre-approval for a mortgage, and conduct thorough inspections. Additionally, buyers should be aware of potential tax benefits and consider resale value for investment purposes. |
Role of Infrastructure in India’s Growth Story
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| The government is placing significant emphasis on the infrastructure sector to drive India’s growth. It has implemented pragmatic policies and allocated substantial funds for sectors such as energy, roads, urban development, and railways. The introduction of the online “PM Gati Shakti” system aims to streamline infrastructure planning and execution. Engineering consulting services are in high demand to address the evolving infrastructure needs in the country. Egis, a leading consulting firm, has been actively involved in various infrastructure projects and aims to strengthen its presence in the rail, water, and road sectors in India. |
