immovable property

Analysis of SC Decision related to interpretation of Exemption provisions

Corporate Law - Analysis of Supreme Court Decision in Mother Superior Adoration Convent relating to interpretation of Exemption provisions Introduction Supreme Court Decision in Dilip Kumar and Company had at one point of time appeared to have closed all alternate doors of interpreting exemption provisions by clearly stating that any benefit of doubt in ...

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Important Provisions of Transfer of Property Act 1882

Corporate Law - Transfer of Property Act is a general law related to transfer of property. It generally deals with immovable property only. Objectives Basic objective of this act is to formulate rules, regulations and procedures for transfer of property. Scheme of the Act Transfer may take effect by 2 different ways 1. Transfer by Act of Parties. [&helli...

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Understand Property and its Registration under Laws of India

Corporate Law - The word ‘property’ has been derived from a Latin word ‘properietate‘ which means a thing that is owned. The term property has been defined in numerous legislative acts according to their uses and requirements, and thus there is no uniform definition of property. In a general sense, property means any tangible or i...

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ITC for the construction of immovable property for own use

Corporate Law - Section 17(5)(d) of the CGST Act, imposes restriction on availing input tax credit in respect of the goods and services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of bus...

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Details of Relatives in Whose Name Benami Property can be Held

Corporate Law - ‘Benami’ transactions were treated as valid transactions by various courts, prior to promulgation of Ordinance in 1988. We know that word ‘Benami’ is a Persian compound word, made up of ‘be‘ which means without and ‘name‘ which means name that is ‘Benami’ means ‘Without nam...

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SC stays Delhi High Court order on recovering service tax on renting of immovable property for commercial use

Corporate Law - The Supreme Court has stayed an order of the Delhi High Court, which stopped the Centre from recovering service tax on renting of immovable property for commercial use, including shops and malls, from some firms. A Supreme Court bench comprising Just...

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Service Tax disputes may cost government 500 crore

Corporate Law - The government may lose over Rs 500 crore in service tax this year, as its decision to impose tax on eight new services and amend some existing ones has been challenged in three cases — copyright, immovable property and health check-up services provi...

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Property Sales at its low in and around Mumbai

Corporate Law - A staggering 96.3 million square feet of residential space — or about 80,000 homes — is lying unsold in the Mumbai Metropolitan Region (MMR), the highest-ever inventory pile-up for the area. Sales are down 38% over last year....

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Retrospective amendment in budget 2010 to provide that renting is a service

Corporate Law - In this Budget a retrospective amendment has been introduced in respect of the service of renting out of property for commercial purposes. Amendment has been made in the definition of “Renting of immovable property service” to provide explicitly that the activity of renting itself is a renting service. The change has given retrospecti...

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Service Tax on Renting of Immovable Property – Board promises Delhi HC to revise instructions

Corporate Law - The Delhi High Court in the Home Solution Retail India case had held that renting of immovable property is not a taxable service. The Government as usual filed an appeal in the Supreme Court and the whole Department is under the impression that by mere filing an appeal in the Supreme Court, the High Court order has become inoperative. So ...

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HC Refused to Entertain Plea of Rajinikanth against Property Tax Demand for Vacant Marriage Hall

R. Rajinikanth Vs Commissioner (Madras High Court) - whether the petition filed for disposal of notice for demanding property tax without waiting for disposal of same case by Municipal Corporation is justified in law?...

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Section 50C cannot be invoked in respect of TDR Rights

Sri Justice B. Subhashan Reddy (HUF) Vs ACIT (ITAT Hyderabad) - whether section 50C can be invoked in respect of the right to receive compensation on compulsory acquisition of land & the TDR rights as the same would not come within the meaning of “immovable property”?...

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Laying of underground cable by mobile service provider is exigible to property tax

M/s Bharti Airtel Limited Vs State Of Chhattisgarh (Chhatisgarh High Court) - Laying of underground cable by the mobile service provider is exigible to property tax being a levy for use of land for laying of cable and not on cable itself. ...

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Sale of immovable property only through registered deeds, Power of attorney sales not valid – SC

Suraj Lamp & Industries Pvt. Ltd. Vs State Of Haryana (Supreme Court of India) - The Supreme Court today ruled in the case of Suraj Lamp & Industries Pvt Ltd Vs State Of Haryana that sale transactions carried in the name of general power of attorney will have no legal sanctity and immovable property can be sold or transferred only through registered deeds. “Transactions of ...

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Govt. Wins – Service tax on Renting Case – P&:H High Court Upholds Retrospective Validation from 01.6.2007

M/s Shubh Timb Steels Limited Vs Union of India and Another (Punjab & Haryana High Court) - : It cannot be held that renting of property did not involve any service as service could only be in relation to property and not by renting of property. Renting of property for commercial purposes is certainly a service and has value for the service receiver. Even if it is held that transaction of ...

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NDMC extends property tax payment date to 15th July 2021

Order No. ABC/HQ/NDMC/2021-22/155 - (20/07/2021) - Date of payment of property tax for Financial Year 2021-22 on lump sum payment 0f Property Tax with 15% rebate along with 3% (three percent) COVID Vaccination Incentive (only for residential properties) Scheme has been extended up to 15% July, 2021 for convenience of the taxpayers NORTH DELHI MUNICI...

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Purchase of Immovable Property in India by Persons of Indian Origin (PIOs) – Amendment of the definition

RBI/2009-10/ 286 A.P. (DIR Series) Circular No.25 - (13/01/2010) - Attention of Authorised Dealer Category-I banks is invited to clause (c) of Regulation 2 of Notification No. FEMA 21/2000-RB dated May 3, 2000 viz. Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India), Regulations, 2000, as amended from time to time, in terms of whic...

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Instruction regarding judgement of Delhi HC in respect of Service Tax on Renting of immovable property

Instruction F.No 336/10/2009-TRU - (15/07/2009) - Kind attention is invited to the recent judgement of the Honourable High Court of Delhi in the matter of Home Solutions Retail India Ltd and Others Vs Union of India [2009] 20 STT 129 (Delhi) , wherein it is held (Para 36 of the order) that, "Section 65(105)(zzzz) does not in terms entail that the r...

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Gifts of property (gifts-in-kind) above value of rs.50,000 become taxable from 1st October 2009

PRESS RELEASE No.402/92/2006-MC - (30/09/2009) - The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs.50,000 (rupees fifty thousand), will become taxable in the hands of the donee, being an individual o...

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Taxation of Services Provided from outside India and Received in India

Notification No. 37/2009 – Service Tax - (23/09/2009) - Legal Consultancy Services provided from outside India, in relation to immovable property shall be deemed to be import of services if the immovable property is situated in India. Legal Consultancy Services provided from outside India which are not in relation to immovable property shall be deemed t...

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Recent Posts in "immovable property"

NDMC extends property tax payment date to 15th July 2021

Order No. ABC/HQ/NDMC/2021-22/155 20/07/2021

Date of payment of property tax for Financial Year 2021-22 on lump sum payment 0f Property Tax with 15% rebate along with 3% (three percent) COVID Vaccination Incentive (only for residential properties) Scheme has been extended up to 15% July, 2021 for convenience of the taxpayers NORTH DELHI MUNICIPAL CORPORATION ASSESSMENT & COLLECT...

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Analysis of SC Decision related to interpretation of Exemption provisions

Analysis of Supreme Court Decision in Mother Superior Adoration Convent relating to interpretation of Exemption provisions Introduction Supreme Court Decision in Dilip Kumar and Company had at one point of time appeared to have closed all alternate doors of interpreting exemption provisions by clearly stating that any benefit of doubt in ...

Read More
Posted Under: Corporate Law |

Important Provisions of Transfer of Property Act 1882

Transfer of Property Act is a general law related to transfer of property. It generally deals with immovable property only. Objectives Basic objective of this act is to formulate rules, regulations and procedures for transfer of property. Scheme of the Act Transfer may take effect by 2 different ways 1. Transfer by Act of Parties. [&helli...

Read More
Posted Under: Corporate Law |

HC Refused to Entertain Plea of Rajinikanth against Property Tax Demand for Vacant Marriage Hall

R. Rajinikanth Vs Commissioner (Madras High Court)

whether the petition filed for disposal of notice for demanding property tax without waiting for disposal of same case by Municipal Corporation is justified in law?...

Read More

Section 50C cannot be invoked in respect of TDR Rights

Sri Justice B. Subhashan Reddy (HUF) Vs ACIT (ITAT Hyderabad)

whether section 50C can be invoked in respect of the right to receive compensation on compulsory acquisition of land & the TDR rights as the same would not come within the meaning of “immovable property”?...

Read More

Understand Property and its Registration under Laws of India

The word ‘property’ has been derived from a Latin word ‘properietate‘ which means a thing that is owned. The term property has been defined in numerous legislative acts according to their uses and requirements, and thus there is no uniform definition of property. In a general sense, property means any tangible or i...

Read More
Posted Under: Corporate Law |

ITC for the construction of immovable property for own use

Section 17(5)(d) of the CGST Act, imposes restriction on availing input tax credit in respect of the goods and services or both received by a taxable person for construction of an immovable property (other than plant or machinery) on his own account including when such goods or services or both are used in the course or furtherance of bus...

Read More
Posted Under: Corporate Law |

Details of Relatives in Whose Name Benami Property can be Held

‘Benami’ transactions were treated as valid transactions by various courts, prior to promulgation of Ordinance in 1988. We know that word ‘Benami’ is a Persian compound word, made up of ‘be‘ which means without and ‘name‘ which means name that is ‘Benami’ means ‘Without nam...

Read More
Posted Under: Corporate Law |

Laying of underground cable by mobile service provider is exigible to property tax

M/s Bharti Airtel Limited Vs State Of Chhattisgarh (Chhatisgarh High Court)

Laying of underground cable by the mobile service provider is exigible to property tax being a levy for use of land for laying of cable and not on cable itself. ...

Read More

Analysis of Section 53A of Transfer of Property Act, 1882

The Transfer of Property Act, 1982 came into force on the 1st July, 1882. In the first instance it extends to whole India, except some states at the time of independent of India. Section 5 defines transfer of property means an act by which a living person conveys property, in present or in future, to one or more other living persons, or t...

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