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14.11.26 - 16:00
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Property seller takes Rs 5.22 lakh cash, faces tax penalty; why ITAT gave relief (Times of India)
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The Income Tax Assessing Officer (AO) in Berhampur received information from the property registrar's office in Jharsuguda that the man had sold a property and collected Rs 5.22 lakh in cash as part of the payment. The registered sale deed also mentioned the cash component. Following this information, the AO issued the man a notice under Section 269SS of the Income Tax Act and levied a penalty under Section 271DA....
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13.11.26 - 23:36
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US is Struggling to Build Affordable Housing (Bloomberg)
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America's housing affordability crisis may be about more than high mortgage rates and restrictive zoning. Boston Fed Principal Economist and Policy Advisor Paul Willen says soaring construction costs are making many new housing projects financially unworkable, even after they've already won approval. He points to research showing construction productivity has barely improved in decades, even as productivity across much of the rest of the economy has surged. (Source: Bloomberg)...
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12.11.26 - 18:36
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Home sales hit 16-year low in October amid record-high mortgage rates (The Guardian)
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Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year highUS existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday.Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to $416,700. Declines in sales were seen in the midwest, south and west, though sales in the north-east held steady. Continue reading......
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