live law consumer Arbitration trust ombudsman

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to save tax on the sale of residential property

March 23, 2024

How do I avoid capital gains tax on my property? Indexation benefit in house sale. ... Joint ownership of property for tax benefit. ... Reduce selling expenses. ... Buy new property (Exemption under Sec 54) ... Invest in bonds (Exemption under 54EC) ... Tax loss harvesting. ... Invest in Capital Gain Account Scheme (CGAS) Government of India, Ministry of Finance have formulated a scheme called “Capital Gain Account Scheme 1988” whereby the tax payers can avail of the benefit of exemption from Capital Gains, if the amount of Capital Gains or the net consideration is deposited in the public sector bank on or before the due date of filling ...

പിഴപ്പലിശ ഇനിയില്ല, പിഴത്തുക മാത്രം; വായ്പാ തിരിച്ചടവ് മുടങ്ങിയാല്‍ ഉപഭോക്താവ് അറിയേണ്ടത് ഇതെല്ലാം..

December 28, 2023

പിഴപ്പലിശ ഇനിയില്ല, പിഴത്തുക മാത്രം; വായ്പാ തിരിച്ചടവ് മുടങ്ങിയാല്‍ ഉപഭോക്താവ് അറിയേണ്ടത് ഇതെല്ലാം.. തിരിച്ചടവ് തുക പരിധിവിട്ട് പെരുകാതിരിക്കാൻ റിസര്‍വ് ബാങ്ക് സ്വീകരിച്ച നടപടി പുതുവത്സരം മുതല്‍ പ്രാബല്യത്തില്‍. വായ്പകളുടെ തിരിച്ചടവ് മുടങ്ങിയാല്‍ പിഴപ്പലിശയ്‌ക്ക് പകരം പിഴത്തുക മാത്രമേ ബാങ്കുകള്‍ ഉള്‍പ്പടെയുള്ള ധനകാര്യസ്ഥാപനങ്ങള്‍ക്ക് ഈടാക്കാൻ കഴിയൂ. ജനുവരി ഒന്ന് മുതല്‍ എടുക്കുന്ന വായ്പകള്‍ക്ക് മേലാണ് ഇത് പ്രാബല്യത്തില്‍ വരിക. നിലവില്‍ ജനങ്ങള്‍ എടുത്തിരിക്കുന്ന വായ്പകള്‍ക്ക് ഇത് ജൂണിനകം ബാധകമാകും. എന്നാല്‍ ക്രെഡിറ്റ് കാര്‍ഡുകള്‍ക്ക് ഇത് ബാധകമല്ല. സാധാരണയായി വായ്പാ തിരിച്ചടവ് മുടങ്ങിയാല്‍ വായ്പയുടെ പലിശനിരക്കിന് മേലാണ് പിഴപ്പലിശ ചുമത്തുന്നത്. ഇതോടെ തിരിച്ചടവ് ബാധ്യത വൻ തോതില്‍ ഉയരുന്നു. മാത്രവുമല്ല പല ധനകാര്യസ്ഥാപനങ്ങളിലും ഇത് വിവിധ തരത്തിലാണ് കണക്കാക്കുന്നത്. ഇതിന്റെ പേരില്‍ ബാങ്കും ഉപയോക്താക്കളും തമ്മില്‍ ഉടലെടുത്ത തര്‍ക്കങ്ങളുമായി ബന്ധപ്പെട്ട് നിരവധി കേസുകള്‍ കോടതിയുടെ പരിഗണനയിലുണ്ട്. ഈ സാഹചര്യത്തിലാണ് പലിശയ്‌ക്ക് മേല്‍ ചുമത്തുന്ന പിഴപ്പലിശയ്‌ക്ക് പകരം ന്യായമായ പിഴത്തുക മാത്രം ചുമത്താ...

Recording conversations without consent may be subject to privacy laws

December 03, 2023

In India, the Information Technology Act, 2000, doesn't explicitly address the recording of conversations. However, the right to privacy is recognized as a fundamental right by the Supreme Court of India. Depending on the circumstances and jurisdiction, recording conversations without consent may infringe upon privacy rights, and legal action could potentially be taken under laws related to privacy, defamation, or other relevant statutes. In India, the right to privacy is primarily protected under Article 21 of the Constitution, which guarantees the right to life and personal liberty. The Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, under the Information Technology Act, 2000, also address the protection of sensitive personal information. Additionally, Section 43A of the Information Technology Act, 2000, and the associated Information Technology (Reasonable Security Practices and Procedures and Sensitiv...

grandchildren residing abroad can give power of attorney to their maternal grandfather for the sale of their immovable property in India

October 20, 2023

Whether grand children residing abroad can give power of attorney to their maternal grand father for the sale of their immovable property grandchildren residing abroad can give power of attorney to their maternal grandfather for the sale of their immovable property in India. There is no restriction on who can be appointed as an attorney-in-fact, as long as the person is competent to contract and is not a minor. However, it is important to note that the power of attorney should be drafted carefully and should clearly specify the powers that are being granted to the attorney-in-fact. It is also advisable to have the power of attorney notarized and attested by the Indian embassy or consulate in the country where the grandchildren are residing. Here are some additional things to keep in mind when executing a power of attorney for the sale of immovable property in India: The power of attorney should be executed on a stamp paper of the appropriate value. The value of the stamp paper wil...

stamp papers in India do not have any expiry date.

October 19, 2023

As per a Supreme Court judgment dated February 19, 2008, in the case of Thiruvengada Pillai v. Navaneethammal & Anr., stamp papers in India do not have any expiry date. This means that a stamp paper purchased in March 2021 is still valid and can be used for the execution of a document at any time. However, it is important to note that Section 54 of the Indian Stamp Act, 1899, provides that a person possessing a stamp paper for which he has no immediate use can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. This means that if you purchased a stamp paper in March 2021 and you wish to seek a refund for it, you will need to do so by September 2023. After September 2023, you will no longer be able to seek a refund for the stamp paper, but you can still use it for the execution of a document at any time.

The Railway Board has decided that if you are talking fast on mobile after 10 pm during the journey in the train, then strict action will be taken.

October 06, 2023

Indian Railways: Now whenever you travel in the train that you do not make any mistake. Even a small mistake can land you in big trouble. Actually, Indian Railways has made a big change in the rules keeping in mind the convenience of the passengers. This is generally known to all the passengers traveling in the train. The recent change made by the Railways is about the passengers traveling at night. According to the new rules of the railway, now no passenger in your seat, compartment or coach can talk on the mobile in a loud voice or listen to songs in a loud voice. Railways has issued new guidelines so that the sleep of the passengers is not disturbed and they can sleep peacefully during the journey According to media reports, many passengers often complain that people traveling together in their coach talk loudly on the phone, or listen to songs till late at night. There was also a complaint from some passengers that the railway escort or maintenance staff also talks loudly. Apart fr...

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