Legal

In reality, fully understanding a commercial lease requires attention to detail and help from a property broker. Who will be responsible for paying property taxes and insurance — you or the landlord? Who will pay for utilities? Who will cover maintenance expenses? To discover the answers to those important questions, you need to know exactly what kind of commercial lease you are signing. Lease...

In India, there are two major types of property ownerships i.e. freehold and leasehold properties. The major difference between freehold and leasehold property in India is the ownership tenure. In case of a freehold property, the land ownership stays with the owner for an indefinite period of time. Whereas, in a leasehold property, the ownership of the land stays with the owner for the period mentioned...

When you sell a property, be it a home or land, you have to pay capital gains tax on the same. Capital gains tax is of two types- Short-Term Capital Gains (STCG) for a property held for less than 36 months and Long-Term Capital Gains (LTCG) for above 36 months.In the case of STCG, the profits generated in the process of selling land is included in the taxable income of the owner and he/she has to pay...

Investigation of title is very essential since the ownership of the property is required to be complete, fair & free from any doubts, risks & interest. The purchaser must take all necessary steps at the time of acquiring property to obtain a good & clear title of the land. When search is conducted unto the property of the person who owns it, it is called the Investigation of Title. It is also...

A will is a legal declaration a person makes about the way they want their property managed or distributed after their death. Although a will is a legal document, there isn’t any prescribed form it must take. For instance, you don’t need to write a will on stamp paper and it can be either typed or handwritten. However, a handwritten will is preferred as it is more difficult to refute. According to the...

When property is given to another person without any or little consideration, it is termed a gift. The property can be movable or immovable. A gift is valid if it is made voluntarily by the person giving the property and is accepted by the person to whom it is given. Let’s discuss how immovable property can be gifted to a near one. Gift Deed A gift deed is an agreement that is used, when a person...

A Power of Attorney (POA) is a useful instrument for Non-Resident Indians (NRIs) who own a property in India.

As per the Income-tax Act, the income received as rent from the building or house is taxed under the head, ‘Income from House Property'.

Key things NRIs should keep in mind while buying property in India At one point in time, buying real estate property in India used to be a complex job. With specific legal reform over the years, it is now a seamless process. According to foreign exchange management act (FEMA) – a non-resident Indian is a resident outside of India for more than 182 days. RBI governs transactions like buying real...

Capital gains can be loosely termed as the profit generated from the sale of any investment or property. Depending on the duration of holding of these assets, capital gains are classified as long-term & short-term gains. According to the Income Tax Act, 1961, any immovable property with a holding period of more than 2 years is classified as long-term capital assets and any profit arise by selling...