Nagpur civic authority cuts 200% extra tax on rented properties

By Accommodation Times Bureau NAGPUR On Thursday, Mayor Nanda Jichkar announced during a conference that, Nagpur Municipal Corporation (NMC) has decided not to levy any extra tax for rented properties. The relief has been given for both residential and commercial properties. Until now, rented properties were taxed at thrice the normal rate. A

NON – Taxability of surrender of tenancy rights prior to 1-4-94

By Accommodation Times News Services By Vimal Punmiya, Chartered Accountant Posted on 26 July 1999 The issue regarding taxability/non-taxability of surrender of Tenancy rights is giving sleepless nights to millions of Tenants, especially in city like Mumbai where Pugree system is in great vogue. The decision of the Special Bench constituted by the Bombay

Lease and Licence Distinguished

By: Mohan Rijhwani, Advocate By Accommodation Times News Services The history  of conflict  in the  distinction between lease and licence is as old as the history  of the concept of lease  itself . The relation of landlord and tenant was originally one of contract  only, but from  early times  the contract conferred  an

Affordable Housing – Where Is the Supply?

President of CREDAI PCMC and Chairman of Pharande Spaces Mr. Anil Pharande Affordable housing is a term we use for residential units in India’s urban areas which are affordably priced with respect to households that fall within a specific limited income range. There is no single set of parameters to

Latest on Rental Service Tax implecations

Definition of “Renting of Immovable Service”: - Service Tax was levied on Renting of Immovable property service from 01.06.2007 by the Finance Act, 2007. The definition of the words ‘renting of immovable property’ has been given in clause (90a) of Section 65 of the Finance Act, 1994. The said definition is