I would like to know the general trend in Pune , India for the broker fee payment.
I would like to know if one is entitled to get income tax deductions (in India) if one pays some amount for house rent even if the same person receives house rent allowance as part of his pay. If the answer is yes then what amount can be deducted and how?
Our society has decided to go for redevelopment of our building and a builder will pay us Rs. 10 lakhs and give a new flat each. The new flat will be given for possession only after 2-3 years. However the 10 lakhs is being paid to each of us in slabs. By Mar’10 I will receive close to 4 lakhs. Do I have to pay Income Tax or Capital Gains tax on this?