Saturday, June 22, 2013

RBI's new measures to assuage Res. Hsg. sector; BL on Banking; Realty Subvention; SG only Adv. can advocate !


ot invest proceeds from sale of property strictly within 180 days from date of sale to get exemption under Section 54EC

Quick Links
With data indicating the banking system is not in the best of health, the surge lacks depth
But given its risky profile, the sector could collapse if the bull run fails to take off
Click Here!
Being a long term investor is also not an easy task, as for long term things might be not in your favour
Financial freedom is directly linked to wealth creation, and cannot be achieved without elaborate planning, first to reach the goal of being ...
Financial Tools

Find out your tax liabilities on your salary.

How much EMI you will pay on your loans.

How to grow your wealth before you retire.

Fixed or Floating interest rate. Find out what suits you the best.

Realty- Compensation for Delay in Delivery >

 Be Aware-

In such cases, party aggrieved will , in one’s perceptive view, have a very valid and legally sound ground to urge for compensation also for tax loss/loss of tax exemption if claimed but denied say,  u/s 54, 54EC as a consequence of the delay in delivery as spoken of.
In such cases, party aggrieved will, in one’s perceptive view, have a very valid and legally sound ground to urge for compensation also for tax loss/loss of tax exemption if claimed but denied say, u/s 54, 54EC as a consequence of the delay in delivery as spoken of.
Initiation of legal action should be prudently timed having regard to the facts and circumstances based on which the cause of action can be rightly claimed to have arisen with certainty; not necessarily having to wait for the final stage of completion. To hint at, if completion is already delayed beyond the expiry of the statutory time limit for ‘purchase’ as per the tax law.
Dilip Shah

Counselor and Analyst for Redevelopment of Housing Societies



19 th July

Real estate regulatory bill must cover all stakeholders: CREDAI

26th June

RBI relaxes rules for residential projects

< With an objective to increase the demand for the residential housing project the Reserve Bank of India (RBI) has decided to relax rules..> ?!

Realty v Cons. Forum

Builder told to compensate flat buyers for delivery delay

In any such case, quantum of 'penalty' may not be commensurate with, and be inadequate by any standard, in comparison to the seriousness of injury or inconvenience and mental agony suffered. One possible consequence to buyer, for no fault of his, is the possibility of denial for tax exemption in terms of section 54 or 54 EC of IT Act. It is regrettable, the Regulatory Bill pending enactment fails to address itself to such grave consequences to buyers solely because of builder's non-chalant and cavalier like predisposition of builders. The tax law also, it is to be urged, needs appropriate amendments to mitigate the hardships to buyers. Pending such measures, buyers could rightly urge to be compensated for loss suffered in case of tax exemption being denied on ground of delay in completion of construction /purchase as envisaged in law.

Reply to>

With no "owners' Association' duly formed/constituted by all the purchasers , in accordance with / following the procedure laid down by the law, there is no 'legal entity' in place. if so, the question of having a formally elected managing committee is a non-starter. As such, perhaps, the only recourse may be to court, by the rest together jointly; and against those few, said "elected" (whatever  that really meant ), alleged to, in collusion with builder, act in a manner prejudicial to the other co-buyers' common rights and interests. In that event, the misdeeds, verging on a criminal offence (s), complained of would require to be proved to the satisfaction of court.

1. Message from banks: No more free SMS alerts

<> The truthful commonly expected objection and resistance to the proposed withdrawal of the current facility of "SMS Alert" is not merely going to depend upon whether the charge is small or otherwise. In today's scenario, in which banks , by and large, are in no position to provide any foolproof safeguard or guarantee to customers of the safety of the customers' monies in their custody, be it at ATM or elsewhere, the banks , in their own interests, must consider it a minimum necessary facility to be provided free of cost. Hopefully, the apex bank will promptly act and nip the idea in the bud, by putting an outright embargo on the prima facie obnoxious proposal, potent with harmful consequences.

2. The new bank rush — from lending to investing

<>  The reported bank rush to convert 'debt' into 'equity ' does not seem to make sense or to be backed by any sound logic and reasoning; more so, to a common man's common- sense thinking. Except that, perhaps, it could serve the purpose of window dressing. It is such a highly involved matter as to expect the RBI, as the regulatory authority in control, besides those economic stalwarts and hard core experts to accord their insightful out of-box consideration and be of proper guidance to the concerned banks.

3. Realty check: Major developers too picking up buyers’ interest tab
    Realty ; New Subvention Scheme

Advocates is the only recognized class of persons entitled to practice the profession of law

No comments:

Post a Comment