IA Section 194
If the property is worth more than Rs 50 lakh, a buyer is required to deduct and submit 1% of the transaction cost as TDS under Section 194-IA of the Income-Tax Act. Section 194-IA, on the other hand, does not define which amount should be used to compute TDS on property sales if the stamp duty value and the actual selling value of the property differ.… Read more
At its 45th session on March 15, 2023, the Network Planning Group (NPG) of the PM Gati Shakti Mission suggested six infrastructure projects.… Read more
The Reserve Bank of India (RBI) may raise its benchmark lending rate again in April 2023, after inflation stayed much over its acceptable limit in February 2023. The next fiscal policy meeting of the RBI MPC is set for April 6, 2023.… Read more
As a significant step, the Noida Authority board has approved a structural policy proposal for the structural audit of multi-story structures in the city in November 2022. The Noida Authority has taken another important step to protect the safety of Noida’s high-rise structures. The Noida Authority has made it essential for builders asking for Occupancy Certificates (OCs) or partial OCs to submit a proper structural independent audit by one of the accredited institutes from April 1, 2023. The OC will be given only if an empanelled institution provides a suitable report. The new structural policy will allow for a five-year structural safety examination of buildings.… Read more
Kolkata is one of India’s most populous cities. It also has a robust real estate market, which has risen dramatically in recent years as a result of a variety of causes, including stamp duty exemption offered by the State government during COVID-19 lockdowns. Numerous pan-India realty firms, notably Godrej Properties, have launched new developments in the city. The mentioned real estate business has developed a residential project dubbed Orchard Godrej Seven in Joka, South Kolkata, a neighbourhood that is experiencing increased demand from property buyers. Last year, Prime Minister Narendra Modi inaugurated the Joka-Taratala segment of the Kolkata Metro, placing the area on the map. This article delves into the specifics of Godrej Seven, a recently launched home complex in … Read more
Mahagun Medalleo is a luxury residential development by Mahagun Group. Mahagun Group, a developer situated in Noida, has completed several projects in the residential, commercial, and hotel sectors. The group’s most recent residential project, Mahagun Medalleo, is now accepting reservations from the general public. The following are important project facts, such as ask rates, payment methods, supply planning, and nearby facilities and social conveniences.… Read more
Demonetisation resulted in the discovery of illegal money, an increase in tax collection, and the broadening of the tax base, said Union Minister of State for Finance Pankaj Chaudhary in a written reply to the Rajya Sabha on March 21, 2023. The RBI has issued several papers on relevant topics, according to the minister. In accordance with the report, the income-tax department performed search-and-seizure operations in 900 groups, resulting in the seizure of Rs 900 crore, including Rs 636 crore in cash, and the admission of about Rs 7,961 crore in unreported revenue. It further said that monies were transferred into legitimate channels as a result of considerable improvements in tax compliance.… Read more
Without high-speed internet access, the world would have came to a halt in the face of the Coronavirus pandemic, which began in December 2019. Since the virus rendered unrestricted mobility difficult, businesses implemented remote working practises in an attempt to keep operations running as normal. Owing to the mobile tower architecture, it was not hard for us to adjust to the new normal fast. Despite the apparent benefits of this infrastructure, its presence in residential areas remains a source of worry. In this context, we will analyse the benefits and drawbacks of living near mobile towers.… Read more
Authorities expect the Global City project to begin building in August 2023 or September 2023, when the monsoon season has passed. It will be finished within 36 months of construction beginning.… Read more
The Karnataka High Court has declared that an ancestral property obtained by a Hindu lady through a registered partition deed does not constitute as inheritance under the Hindu Succession Act. As a result, the property will not be returned to the woman’s father’s heirs following her death, according to the HC.… Read more
