Stamp duty
Electronic Stamps for stamp duty payment was the first step, Delhi government took towards realizing some revenue. It has now floated the idea of charging electronic registration fee for documents and this includes properties too. Futuristic Approach The idea of this concept is to shed over the old manual up gradation of documents which in [...] Continue Reading »
Hero MotoCorp approached the board of revenue in Uttarakhand to seek relief against a penalty of Rs 111 crore on alleged stamp duty evasion. This was pertaining to the lease deed of its Haridwar manufacturing plant. However the unfortunate news for Hero is that the Chief Minister Harish Rawat has ruled out any relaxation in the fine. He defended the decision [...] Continue Reading »
Imagine buying property and paying stamp duty far higher than the deal entails because the circle rate is much more than the market price? Many buyers in Delhi NCR in New Friends Colony, Kalindi Kunj and parts of Noida for instance and in smaller cities like Bhopal are doing exactly that as a piquant situation [...] Continue Reading »
The Delhi High Court has sought response of the Centre and the city government on a plea for quashing of the existing circle rates in the national capital. A bench of Chief Justice G Rohini also directed the Municipal Corporation of Delhi (MCD) to file its reply whether it is charging stamp duty on the [...] Continue Reading »
Announcing the Union Budget 2014-15 on Thursday, Finance Minister Arun Jaitley said that air travel in the country will be notably improved through the development of new airports in smaller cities and towns. The government’s plans for better airport connectivity in regional areas are apparently rooted in the fact that though airport travel has increased [...] Continue Reading »
The Union Budget 2014-15 has given a noteworthy boost to the real estate and infrastructure sectors of the country. Among the key proposals of the government in the recently-presented Budget are tax incentives for two new investment products — Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The proposed tax incentives for REITs and InvITs will [...] Continue Reading »
In the Budget 2014-15, presented by Finance Minister Arun Jaitley on Thursday, income tax rates remain unchanged; while a proposal for reviving the revised Direct Taxes Code (DTC) will be considered by the government after taking into account the comments of stakeholders. With the promise that no tax changes will be brought on with retrospective [...] Continue Reading »
The Budget 2014-15 – presented by Finance Minister Arun Jaitley on Thursday – marked the maiden Budget of the newly-formed NDA government. Experts are of the opinion that the Budget is quite a ‘balanced’ one. Pushing for an all-encompassing agenda, the Budget predominantly underscores the new government’s comprehensive focus on macro-economic stabilisation, reduced inflation, sustained [...] Continue Reading »
The government order issued last week lacks clarity on the procedures to be adopted while purchasing land. Also there is confusion whether the registration fee and stamp duty will be waived off. Due to this, the revenue officials are unable to start procedures to acquire the remaining land required for the Metro project. Amid criticism [...] Continue Reading »
The country’s largest manufacturer of hydraulic, industrial and automotive hoses, Polyhose India has gained 86 acre land parcel which earlier belonged to Presidency Kids Leather, nearby Chennai. Under the SARFAESI Act the land was acquired through an auction conducted by Syndicate Bank. The deal size is said to be close to Rs 100 crore, including [...] Continue Reading »
