Legal Guidance
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Myths about CIBIL report busted
Buyer worries extremely about their CIBIL score before they approach for the home loan, in fear I the score isn’t good then their request will be rejected. To a very extent, CIBIL score plays a very important role in one’s financial journey. It brings some kind of transparency in the entire loan process. If your loan lender says that your loan has been rejected because of bad CIBIL score then ...
LEGAL GUIDANCE -
Here is What You Should If Your Tenant Become Landlord of Your Property
A Majority of Landlords prefers those tenants who are genuine and honest, willing to pay high rent. However, sometimes the assessment goes wrong and landlord lands in some difficult situations. Recently we have heard many cases where the tenant has sold the property and the landlord did not have any knowledge about the same. To avoid such circumstances the Rent Control Act was framed for prot...
LEGAL GUIDANCE -
Are you filing ITR for the income earned from another property? If not, you might land in problem
The government has seized the Benami property worth Rs 800 crore till mid August 2017. The IT department of the country is now planning to scrutiny those who are holding the property papers and not paying the IT returns for the same. Prior to budget 2017, only 24 lakh tax payers have declared income over Rs 10 lakh per annum while the current population of the country is 125 crore. Let’s take...
LEGAL GUIDANCE -
Documents that every landlord must have with them safely
As a landlord one has endless responsibilities apart from collecting rent every month. Making sure that the tenant is not facing any problem or issue with the property all the while making sure you get the rent monthly is immensely important. as a landlord, you are expected to keep few documents safely so that you can carry your duties seamlessly. Here are the seven documents every landlord mus...
LEGAL GUIDANCE -
All you need to Know about Tripartite Agreement
Tripartite agreement is among the most useful and necessary things in property transaction process. It is the main legal document that involves buyer, builder and the bank. It is that agreement which is required when a buyer purchases a property in an under-construction project with the help of a home loan. The tripartite agreement clarifies the role of all the parties involved in a property ...
LEGAL GUIDANCE -
How Tenants can Avoid Eviction Notice
If the matters between the landlord and the tenant go out of hand and reach a point where it cannot be solved by the negotiation, then the landlord can m=issue an eviction notice to the tenant. For a tenant, it can be a red siren, hurting his credibility and integrity. There are some ways to which a tenant can avoid getting an eviction notice. We discuss them here: 1. Pay rent on time: The ...
LEGAL GUIDANCE -
Under section 194IA, 1 percent TDS on the Property Purchase
It’s not new information that black money is involved in most of the property transactions in India. Hence, to overcome the issue, the government of India has introduced a law that mandates the property purchaser to deduct the tax at the source while paying the seller for his property. Section 194IA of income tax Act requires the buyer to deduct a tax at the rate of 1 percent of the sale cons...
LEGAL GUIDANCE -
Enjoy Tax Benefits for the Rent You Pay
Whether you are a salaried person or self employed, there are certain tax benefits that you can enjoy if you pay the rent. The law allows the individual to deduct the tax for the rent being paid. We discuss the provisions for the same: Tax benefit for the self employed person: A self employed person can claim tax as an expenditure if the premise or the office used to carry out business i...
LEGAL GUIDANCE -
What is Debt- to EBITDA Ratio and Why Is It Important for Self Employed Borrowers?
If you are a self employed person, then you might know how difficult it for self employed people to get a loan. A detailed evaluation of your financial and tax documents are done before you are approved a loan. In order for banks and financial institutes to approve the loan for you, they try to assess the best loan that you can bear according to your financial capability. The analysis also incl...
LEGAL GUIDANCE -
Legal things you need to do before You Sell Your House
Selling a property is as difficult as buying a new one. Finding the right buyer can be a difficult thing, but making sure that the sale deed is done properly with all the documentation required is also a crucial task. All the tasks have to be taken with extreme caution to avoid any mistake which can cost you a lot in future. We discuss all the things you need to keep in mind before selling your...
LEGAL GUIDANCE
