Income Tax Dept steps-up actions under Prohibition of Benami Property Act

By Accommodation Times Bureau NEW DELHI Due to intensive efforts were undertaken by the Income Tax Department, the provisional attachment has been made in more than 900 cases of properties under the Prohibition of Benami Property Transactions Act (the ‘Benami Act’), which came into force w.e.f 1st November, 2016. These attachments include

No Stamp Duty on new flats acquired after redevelopment

By Accommodation Times Bureau According to circular No.K.5/Stamp-17/Pra.Kr.10/13/303/17 dated 30th March 2017, Department of Stamps, Inspector General of Registration & Controller of Stamps (Maharashtra State), there shall be no Stamp Duty payable on the areas previously held by the members of the society or areas of rehab in new construction. The circular says: It has

Home loan repayment qualify for exemption only if property is having OC

By Accommodation Times Bureau Section 80 C where a limit of exemption is 1,50,000/- is given for home loan seeker who pays principle sum in Equated Monthly Installments (EMI). However, it is provided that property must be complete and occupied with completion certificate. Till then only deduction available is under section

Succession to the Property of a Hindu Female

By Advocate S R Agarwal Accommodation Times Bureau The succession to the property of a Hindu may be testate or intestate  The testate succession means, where a person leaves behind a will with the instructions for the distribution of his/her property/assets after his/her death in the manner mentioned in the will.  In

Odyssey Technologies acquires commercial property in Chennai

Odyssey Technologies Ltd has acquired a commercial property with a built-up area of 11,146 square feet situated at 5th Floor, Dowlath Towers, 63, Taylors Road, Kilpauk, Chennai- 600 010 for accommodating the Registered Office cum R & D Centre of the Company. The Registration formalities in respect of the aforesaid property

Master Direction – Acquisition and Transfer of Immovable Property under FEMA, 1999,/

By Accommodation Times News Services RBI/FED/2015-16/7 FED Master Direction No. 12/2015-16 January 1, 2016 To, All Category - I Authorised Dealer banks and Authorised Banks Madam/ Sir Master Direction – Acquisition and Transfer of Immovable Property under Foreign Exchange Management Act, 1999 Acquisition and transfer of immovable property by Indian residents outside India and Non-residents in India is

Property Rights with Hindu Succession Act

By Accommodation Times News Services The Hindu Succession Act 1956, is the most important enactment to regulate the property rights in Hindu religion. The Act came into force on 17th June, 1956. We will discuss the salient features of the said Act in this article. As per the schedule appended o the