Legal Guidance
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Everything you need to know about Section 80EE for the Homebuyers
A homebuyer, who takes help from financial institutes or banks to buy a home, definitely enjoys a lot of benefits under the tax regime. The deduction on the principal component is offered under the Section 80C of Income Tax Act, deductions on the interest component are offered under Section 24 and Section 80EE. What does Section 80EE entail? Section 80EE deals with the deduction concerning t...
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Everything You Need To Know About Sales Deed
While doing research on buying the property, one often comes across the term sales deed. It is one of the most important and valuable legal document that a homebuyer must possess. The sales deed is also called a purchase deed, and it is only after establishing your ownership through purchase deed, you are allowed to proceed with registration and mutation of the property. The sales deed is drawn on...
LEGAL GUIDANCE -
Everything you need to Know about Anti-Money Laundering Act
Money laundering is one of the most severe crimes that the world is facing. The government of India has made several laws to prevent the money laundering, and over the years, the rules have become stringent and strengthen. The prevention of Money Laundering Act (PMLA) is the act which has been amended several times to combat such crimes. Before we proceed further let us discuss what is money la...
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Everything you need to know about Section 24 of Income Tax Act
A property is perceived to generate income and hence the government imposes a tax on the potential income regardless of whether the owner is making any rental income out of it or not. For the tax liabilities, the authorities decide the annual value of such properties. The income also has the provision of deduction under Section 24 of the Income Tax Act. According to Section 24 of the IT Act, a ...
LEGAL GUIDANCE -
Everything an NRI must know About Power of Attorney in India
Real estate of India has always been a gold mine for NRI investors. The hefty return on selling the property after a few years is higher than any other country. However, there are certain things every NRI investor should know about investing in real estate of India. The power of attorney is one such thing that most NRIs are not aware of. In the absence of PoA, NRIS might find it difficult to ma...
LEGAL GUIDANCE -
Points to Remember while Checking the Property Legally Verified or Not
Looking for a property is still feasible, but finding one without any legal tussles can be termed as an achievement. As the real estate sector has grown leaps and bounds, the dispute and fraud over properties have also increased significantly. Although with real estate law in place to a certain extent, things have come in control but depending on the law every time is not going to help. So here ar...
LEGAL GUIDANCE -
Project Delayed for a Year? Is Asking for a Refund a Good Option?
Courts in India have said it again and again that the buyers could not be made to wait infinitely to be given the possession of their property. The builders are obligated to refund the buyer if the project has been delayed. In March, the Supreme Court of India has given the orders to the builders that if the project has been delayed, then the builders are supposed to pay the compensation the bu...
LEGAL GUIDANCE -
Everything You Need to Know About GST on Under-Construction Houses
Since GST has been introduced, there has been a lot of confusion among the people regarding the application of GST on houses. To address the queries, the Finance Ministry has recently published a compilation of frequently asked questions. In March, the GST council permitted the developers to exercise one time option for the input tax credit by choosing between old GST and new GST provision for ...
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What are the Property Rights of The Live- in Couple and their Children?
Over the years, there has been a lot of discussion and debate on the validity of the relationship of the couple who are in live- in relationship. The matter becomes more serious when their children claim for the rights on the property. In 2015, the Supreme Court of India ruled that if the couples have been living together as live- in couple, for a long time, then they enjoy the equal rights as any...
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All You need to Know about Title Deed
Entering the world of real estate can be intimidating. Different terms and vocabulary used in the real estate universe can be a bit confusing. To make the entire process of buying and selling easy and hassle-free, one needs to understand all the terms that define the ownership of the property. Such is a case of sales deed and title deed. Though they both sound similar but are different and buye...
LEGAL GUIDANCE
