Housing Society Certificates tax benefits

Housing Society Certificates will now suffice for tax benefits

Tax Benefits – Housing Society Certificates   The income-tax tribunal has ruled that completion certificates from govt authorities are not a must for availing of home loan tax exemption. Home buyers might get relief from the income tax (I-T) department even if the developer has not obtained the completion certificate. According to a recent order […]

Minority members obstruct development

Minority members cannot obstruct the development of the building

  In the matter of redevelopment of Azad nagar Co-op Hsg Soct Ltd, Bombay High Court, Justice Gautam Patel held as under:- 1) Notification issued u/s 79A under Maharashtra Co-operative Society Act(MCSC) dated 3rd January 2009 is just directory and not mandatory, substantial compliance is sufficient. 2)In case of dispute between Developer & Society, civil […]

RERA effective from May 1st 2017. Some important points one must know!

MOFA continues to apply. However, if there is any inconsistency between RERA and MOFA, RERA will apply. Every project which does not have the Occupation Certificate and would be advertised for sale of flats should be registered with RERA. Therefore, possibly many buildings/societies being occupied without having an Occupation Certificate need not be registered with […]

Divorce by NRIs

Questions on Divorce by NRI’s

General questions that can arise for an NRI married in India are: Can a marriage which is solemnized in India dissolved by foreign Court? Can an Indian living abroad file a case for Divorce in foreign Court? Whether a decree of divorce granted by foreign Court valid, legal and binding in India? Whether an exparte […]

FAQ’s on Real Estate (Regulation and Development) Act

I. General FAQs 1. What are the objects and reasons for which the Real Estate (Regulation and Development) Act 2016 has been framed? Ans: The Real Estate Act is intended to achieve the following objectives: • ensure accountability towards allottees and protect their interest; • infuse transparency, ensure fair-play and reduce frauds & delays; • introduce […]

How to deal with Rs 500 and Rs 1,000 currency notes ban?

How to deal with Rs 500 and Rs 1,000 currency notes ban? In a bold move, today prime minister Shri Narendra Modi announced that Rs. 500 and Rs. 1000 notes cannot be used as legal tender from midnight 8th Nov. 2016. The main point is handling this crisis calmly until next week or so until things […]

Press Release Fake Indian Currency Notes

Government of India Ministry of Finance Department of Economic Affairs ******* Press Release With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities such as espionage, smuggling of arms, drugs and other contrabands into India, and for eliminating Black Money […]

Is your marriage solemnized before a Marriage Registrar?

One must know that if you have given a notice of 30 days before the solemnization of marriage and later appeared before the Marriage Registrar to solemnize your marriage, you are married under the Special Marriage Act, 1954. One must understand that when a person is married under Special Marriage Act, in such scenario, property […]

Winding up of a Company

The shareholders of a Company have decided on Winding up of Company. They plan to close the business and pay off the debts and liabilities of the company. Broadly there are 3 options available for winding up a Company, most of the times “voluntary winding-up” option seems to be the most viable for reasons set out in this […]

Nomination – is it effective?

If you make a nomination in your assets (for property, insurance, provident fund, demat account etc.) would the assets devolve as mentioned in your Will or would it go to the person nominated absolutely or would it be governed by law of succession? A nomination is made during the life of the holder / owner […]