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.
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.
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.
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.
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.
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.
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.
