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Legal Aspects


 
   Apartment Owners Association, Bangalore – Objectives, Duties and Powers
This article discusses the objectives, duties, and powers of Apartment Owners Association
   Formation of Apartment Owners Association - Bangalore
When you by an apartment in an apartment complex, you also become a part of the Apartment Owner’s Association, also known as society. The purpose of the association is to take care of all the common requirements of the apartments, such as maintenance, collection of charges, and general welfare of the apartment owners.
   How to Calculate Tax on Rental Income
This article explains how to calculate tax on the rental income you receive on your second home. It also explains the tax benefits you can receive if you have taken a loan for this house.
   Real Estate Laws in India
In addition to federal laws of India, there are many state laws governing real estate transactions and investment. This e-learning short course highlights the major laws governing real estate in India.
   Beware of builder tricks - How to Avoid Getting Scammed - Part 2
This is the second part of the article about the tricks that developers play and how consumers can protect themselves against them. In the first part we covered the measures the consumers can take if there are problems with respect to possession of property, propert documents, or quality of construction. This article covers the remaining four problems.
   Beware of builder tricks - How to Avoid Getting Scammed - Part 1
This two parts article provides brief information about the tricks that developers play and how consumers can protect themselves against them.
   Guide to Khata
A Khata is a property document that includes details of the respective land or property. The Khata contains various details such as size, location, and built up area. A khata is an account of assessment of a property for the payment of tax. It also contains the name of the owner for such property that is primarily responsible for payment of property tax.
   Stamp duty on property transactions
Stamp duty, like sales tax or income tax, is a tax collected by the Government. With respect to property, stamp duty needs to be paid for any sale or transfer of property. The stamp duty related to property is a state subject and the rates for the duty vary from state to stage. It is important to pay the stamp duty in full and on time to avoid penalty.
   Income tax benefits and home loans
Resident Indians are eligible for certain tax benefits on principal and interest components of a loan under the Income Tax Act, 1961.
   Capital Gains Tax
A capital gain is the gain you make on selling an asset such as a house, land, gold, shares, etc. On the other hand, if you make a loss, it is know as capital loss. Since property is a capital asset, it attracts capital gain/loss.
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