What is Tax Deducted at Source (TDS) ? Concept: A person (deductor) who is liable to make payment to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income, tax has been deducted at source would get credit of the […]
An NRI or an OCI residing outside India wants to sell / purchase / rent out / take possession of a property located in India but unable to visit India and register the property in the Sub-registrar office shall execute the power of attorney The principal person shall approach the respective Indian Embassy / Indian […]
The Uttar Pradesh government has decided to do away with the stamp duty in case a property is transferred to a family member. Until now, a seven percent (7%) stamp duty was applicable on such property transactions. The proposal to do away with stamp duty on property registration for family transfers has been cleared by the Uttar […]
Lease vs rent is an often-debated topic in Tenancy. In fact, both words rent, and lease are used interchangeably to denote a tenancy agreement between a tenant and a landlord. Similar in some respects, the duration, and terms of reference, and tenancy conditions vary in both lease vs rent. The tenancy can be created both by a […]
What is land encroachment? Land encroachment is a process when someone violates an owner’s property rights. A person enters a building or a property unlawfully or extends some part of the building into someone else’s structure intentionally or unintentionally. Land encroachment is also sometimes called property encroachment, but there is a very thin line between […]
Seller’s Responsibilities During Transfer of Property Section 54 of Transfer of Property Act 1882 defines ‘Sale’ as the transfer of ownership of property in exchange for a price promised, paid, part-promised or part-paid. The section discusses the responsibilities of the seller during the transfer of property. These responsibilities are listed below: On request for examination by the […]