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Transit rent not subject to TDS: Bombay HC

BUSINESS

Transit rent not subject to TDS: Bombay HC

The `transit rent' received by displaced owners towards temporary alternative accommodation in case of projects under redevelopment is not income, and hence not taxable. Both the HC and the ITAT have clarified this.

Copyright infringement, even if unintentional, can result in fines up to Rs 2 lakh, imprisonment

BUSINESS

Copyright infringement, even if unintentional, can result in fines up to Rs 2 lakh, imprisonment

Criminal remedy against copyright law violations includes imprisonment for a minimum period of six years and imposition of a fine of a minimum Rs 50,000, which may extend to Rs 2 lakh, search and seizure of infringing goods and delivery of counterfeit goods to the copyright owner.

Here's how law protects seniors from neglect by their children

BUSINESS

Here's how law protects seniors from neglect by their children

The Maintenance and Welfare of Parents and Senior Citizens Act, 2007, ensures that senior citizens are not abused by their children. If they have already transferred their property to their children on condition that they will be looked after, and if the children fail to keep their promise to do so, such transfers can be made void.

The implications of co-owning a house or property for legal heirs

BUSINESS

The implications of co-owning a house or property for legal heirs

Many people buy houses with their spouses, live-in partners, parents or children. However, there are two types of co-ownership and the difference lies in how your share in a property gets passed on after your demise.

MC Explains: When a Hindu Undivided Family may not work

BUSINESS

MC Explains: When a Hindu Undivided Family may not work

Keeping aside income-tax benefits, selling property under an HUF structure may be cumbersome because the consent of all members of the family is required.

MC Explains | What is a Hindu Undivided Family?

BUSINESS

MC Explains | What is a Hindu Undivided Family?

Taxation works differently for individuals, companies, firms and other entities. One such entity is a Hindu Undivided Family (HUF), which has its separate tax liabilities and exemptions.

The long road ahead for Supertech’s homebuyers

BUSINESS

The long road ahead for Supertech’s homebuyers

The law states that a homebuyer can only approach NCLT if the developer is an entity under the Companies Act. If the developer is a sole proprietorship, partnership firm or an individual, homebuyers do not have a remedy in NCLT as of now.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347