GST and Income Tax on Transferable Development Rights (TDR): A Comprehensive Guide. Transferable Development Rights (TDR) is a revolutionary concept in urban planning and real estate, offering an innovative approach to manage land use, promote urban growth, and preserve valuable land resources. As urbanization accelerates, TDR plays a pivotal role in balancing development needs with […]
Transferable Development Rights (TDR) is a transformative concept in urban planning and real estate development, acting as a strategic mechanism to manage land use, encourage growth in urban areas, and preserve valuable land resources. As cities continue to face growing urbanization and a scarcity of available space, TDR plays a critical role in optimizing the […]
Personal loans can be a convenient option for salaried individuals to meet financial needs like medical emergencies, weddings, travel, or debt consolidation. However, there are several important factors to consider before availing of a personal loan to ensure that you borrow wisely and avoid financial strain. Below are the key points: 1. Assess Your Loan […]
Home Loans, Mortgage Loans or any type of Loans, customer usually starts to make payment of Interest from the date of disbursement of loan even though they don’t receive actual funds in their bank accounts. Banks/NBFCs loan management system (LMS) starts charging interest on principal amount disbursed as per repayment schedule drawn post disbursement of […]
Section 6(1A) of the Act A new sub-section (1A) to Section has been inserted with effect assessment year 2021-22 to provide that notwithstanding anything contained in sub-section (1), an individual, shall be deemed to be resident in India in any previous year if the following conditions are satisfied: The individual is a citizen of India; […]
One person companies are in existence in certain countries. In India this concept has been mooted by the Ministry of Corporate Affairs by allowing One Person Companies in India in line with UK, China, USA, Australia, Singapore, Qatar, Pakistan and several other countries. It is a right thinking in right direction by the Ministry of […]
The Madras High Court has quashed the prosecution initiated by the income tax department under section 276C(2) of the Income Tax Act, 1961 by holding that there is no willful evasion of tax. Section 276C (2) of the Income Tax Act, 1961 provides that if a person willfully attempts to evade the payment of any […]
In 2017, Gujarat’s state government published the overarching rules for the Gujarat Real Estate (Regulation and Development) Act, putting the Gujarat RERA (GUJRERA) into effect ever since. RERA Gujarat supervises the real estate sector in Gujarat and protects the rights of home buyers. Gujarat’s real estate sector is progressing daily, making the state a hub of commercial advancement. The […]
A home loan is a secured loan that is obtained to purchase property by offering property to be purchase as collateral. Looking at current property rates in different cities and states in India, it may be not possible for middle class or upper middle class buyer to purchase property for own source of funds. So […]
The Reserve Bank of India (RBI) has recently implemented regulatory measures aimed at addressing the rapid growth in consumer credit and the increasing dependency of Non-Banking Financial Companies (NBFCs) on bank borrowings. In a statement dated November 16, 2023, Governor Vaibhav Chaturvedi highlighted the need for banks and NBFCs to strengthen their internal surveillance mechanisms […]
