Usually people are required to pay property tax over the property that they can claim ownership to. The owner of a property is liable to pay the tax that is levied by the local body called property tax.
A No Objection Certificate (NOC) is one such important document involved in property transactions. A NOC is a document that essentially proves the ownership of a person over the property.
It is observed that there are instances where the landlord uses absurd excuses to evict tenants without providing the actual reason for such eviction, as these do not provide them with any legal authority to evict tenants.
GST is a single tax which is applicable on a taxpayer to prevent the multiplicity of taxes, and the burden associated by complying with the different types of taxes. It was introduced to replace the old central and state taxes and the different types of taxes which had to be paid.
Developers charge an extra amount for the use of these amenities. Since these amenities are community and commercial facilities, the owners are charged a monthly maintenance fee for upholding the standards of societal living and maintenance of such facilities.
Month to month lease agreements provide the tenant and the landlord with the opportunity of great flexibility in terms of the lease agreement.
A seller invests a lot of his time, money and energy in preparing a property that has been sold. Sometimes, sellers are emotionally attached to their property, and may not want to sell it.
Property tax, also referred to as house tax, is a tax that is imposed on real estate property owners by municipal authorities like the panchayat and municipal corporations. It is levied by the State Government, unlike Income Tax, levied by the Central Government.
Owners of real estate property who have rented out the property owned by them, have an option to claim the deductions from the rental income. This type of deduction is called a property tax deduction.
When one purchases a property, its registration and the documents of sale and purchase are of utmost importance. All transactions involving the sale of the property must be above Rs 100 in order to be registered.