What is the Pagdi or Pagdi System? Pagdi is a traditional and unique tenancy model in India since the pre-Independence era, although the number of people, who are tenants under such a system today, may not be high. Similar to …
Taxpayers who have already registered under the GST Act can apply for cancellation of GST registration any time if they think they should close their business or in case any situation arises. Once the registration is cancelled it is no …
In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration …
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is an incredible instrument in the possession of the banks and Financial Institutions (FIs) as lenders. This Act assists them with upholding protections held as …
Section 5 of the Transfer of Property Act, 1882 defines the phrase “transfer of property”. The section provides that “transfer of property” means an act by which a living person conveys property, in present or in future, to one …
The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 – Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21. This notification shall …
The Central Board of Indirect Taxes and Customs, via Notification No. 29/2021 – Central Tax has announced that provisions of sections 110 and 111 of the Finance Act, 2021 shall come into force from 1st August 2021. Thus, starting 1st …
Under the Indian legal system, properties are divided into two categories – movable and immovable. The Transfer of Property Act (ToPA), 1882, which came into force on July 1, 1882, deals with the aspects of transfer …
A legal heir is a person who succeeds or enters into the ownership of a person who died unexpectedly without a will. Legal heir certificate denotes the relationship between the legal heir and the deceased and is mandatory, especially …
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