immovable property
By making buying and selling of leasehold properties easy, the Delhi state government had made a welcoming movement, which is sure to bring cheers. This move is a big relief and would bring cheers to lakhs of property owners The Delhi state government has finally relaxed the prohibitions in connection with the sale of leasehold [...] Continue Reading »
The Delhi Government has taken up the restrictions on sales of leasehold properties in a major relief. This is good news for all the property dealers and might boost the prices of real estates. All the registrar officers are asked by the Revenue Department to allow the purchase and sales of leasehold properties. This rule [...] Continue Reading »
Centre has sounded warning to State governments over reports that foreign nationals are buying immovable property illegally in some parts of the country in violation of the rules and regulations under FEMA. In a recent letter to State governments including Orissa, Centre has intimated that foreign nationals coming to India and staying beyond 182 days [...] Continue Reading »
Only if land grab bids and ‘double documents’ were enough to trouble the property owners/buyers, the state registration department shocked the Madras high court by saying a controversial statement that it is difficult to issue encumbrance certificates without any fault. An encumbrance certificate (EC) is the basic document which reveals the current status of an [...] Continue Reading »
New Delhi- If you haven’t yet paid your service tax dues, hurry up as November 27 is the deadline with over Rs.10-lakh rental income out of the immovable properties. Tax payers who fail to pay by the deadline will be charged a penalty. Tax implies to renting commercial properties with the rental amount exceeding the limit of Rs.10 lakh annually. [...] Continue Reading »
The government has planned to implement the TDS scheme for all transactions in real estate sector. In the new property transaction scheme, any person selling a property in excess of Rs 25 lakh had to seek the prior permission of the Government. The new concept of deducting tax at source will be effective from October [...] Continue Reading »
The Supreme Court of India has announced that the sale of immovable property under General Power of Attorney (GPA) will be considered illegal and will attract strict punishments. The decree might actually lead to a 20 percent downfall in the value of properties. The decision might have implications in resale and secondary properties. The decision will not [...] Continue Reading »
The Retailers’ Association of India along with the Confederation of Real Estate Developers’ Association of India and Multiplex Association of India had moved the Bombay high court against the service tax on renting of commercial property.The main argument that the developers made was that tax department was misinterpreting the entry of taxable service “in relation [...] Continue Reading »
