Property Agreement

Renting property in Mumbai, especially in areas like Bandra, Juhu, South Mumbai, and Powai, often exceeds Rs. 50,000 per month. With this, tenants must understand the obligation to deduct TDS under the Income Tax Act. Failing to comply can result in penalties and legal consequences for both landlords and tenants. Here’s a breakdown of how TDS applies to rental payments: 1. Understanding TDS on Rent...

Introduction Gifting property is a thoughtful gesture, often shared among family members in India. However, it's not as simple as handing over the keys—there are critical legal and financial factors to consider. This guide covers everything you need to know about stamp duty and tax implications for gifting property, helping you make an informed decision. What is a Gift Deed? A gift...

Undestanding Maharashtra Stamp Act At any point, if any movable or immovable resource/asset changes ownership, to get it stamped or legalized – a specific amount of tax has to be paid to the state government, which is known as stamp duty. The Maharashtra Stamp Act states such resources and assets on which the stamp obligation must be paid to the state government. The Act additionally specifies the...