Services by way of renting of residential dwelling for use as residence is exempted under GST

By Accommodation Times Bureau ‘Renting’ has been defined in section 65B as ‘‘allowing, permitting or granting access, entry, occupation, usageor any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar

Rent from unsold flat is Business Income?

By Vimal Punamiya, FCA, LLB Accommodation Times Bureau PROPERTY V/S BUSINESS INCOME Earlier rental income earned by real estate developer was not of dispute, because developers preferred to offer income under house property head so then can claim standard deduction of 30%. But department wants to tax rent income under business head. This issue was resolved

Tenant Have Legal Rights In Rented Housing Property

By Accommodation Times Bureau Chandigarh Legal issues emerging among owners and tenants are viral in air, since decade. So, it is extremely important as a tenant to know their rights well. Wrangles between the landlords and tenants are too common – not only in the country, but also in the world- despite the enactment of

Surrender of tenancy right is capital gain

By Legal Cell, Accommodation Times Bureau It is to be noted that in the instant case what has been transferred by the assessee is the tenancy right which is very much part of the capital asset as envisaged in sub-section (2)(a) of section 55.  Sub-section (2)(a) of section 55 stipulates that

What you should look before renting a flat as a tenant

By Accommodation Times Bureau Renting an apartment is necessity when you cannot or don't want to buy a property. Sometimes a short stay for employment purpose or some time it is not economically viable. Precautions you should take before renting an apartment. Presuming you have negotiated for rent and deposits, let

Maharashtra Rent Control Rules 2017 will be effective after 31st March

By Accommodation Times Bureau On 3rd March 2017, Housing Department under its notification No.YACHIKA.2015/C.R.17/(Part-2)/GND-1.- Under Rent Control Act 1999, issued draft Rules for objections and suggestion to be finalise on or after 31st March 2017. All objections and suggestion may be sent to The Notification : HOUSING DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk,

What if tenant over stay the lease period?

By Advocate S R agarwal Accommodation Times Bureau By overstaying, a licensee cannot claim tenancy rights With the passage of the time the system of giving properties on leave and license basis in Maharashtra is taking roots, but still a good number of the property owners are apprehensive; because they are not sure