Sunday, November 3, 2013

TOI Assorted News > Apt. news BL Post Divali - many areas bundled together and covered, in one-go; but all are instances of many more 'miles' to go/be covered- reason being highly controversial, hance no contructive thinking or desirable solution be believed in sight/ close range vision-no matter , - 'short' or 'long' ?



Xtracts >

“...Though the apex court had given the residents seven months to vacate the premises, they claimed they had done no wrong and were duped by the builders and the BMC....”
“...It is a very depressing feeling to know that for 25 years the authorities kept sleeping and now they want to demolish our houses,” said a distraught 17-year-old Sitanshu Parikh....”
“Sachin Ahir said the government is evaluating various options within the ambit of the Supreme Court order to find a solution. The options include seeking legal opinion to come out with an ordinance to provide relief to residents of illegal buildings with retrospective effect, or to jointly assist in the regularisation of these houses or rehabilitate them under the Development Control Rules, he added.”
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E-registration of equitable mortgage made mandatory in Maharashtra

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Service Tax

November 8, 2013

Confused argument

“Real estate sector loses tax battle”(Business Line, November 7) is full of errors about the statutory provisions decision of the Apex Court. There is confusion regarding... »



Recent Article in Taxation & Accountancy

Service tax scheme: Chidambaram to kick-off meetings on Saturday

With just two months to go before the deadline of Service Tax Voluntary Compliance Encouragement Scheme (VCES) ends, Fin... »




Nov 7 

 Herd behaviour has made markets volatile

 Excerpts >

Bewildering truths nothing but truths about the  whole thing - !

<For those of us who have been bewildered by the twists and turns of this unfolding drama, there are some new lessons to be learnt about the efficiency of markets, the psychology of herds and the consequent irrationality of market behaviour and prices. .....

To cut a long story short, what this herd behaviour does is vitiate the basic principles that Economics 101 teaches. When prices rise, demand actually rises in response instead of decreasing. Everyone is human and likes to get rich and so jumps on the bandwagon. Rationality, that should drive prices back to fair values, goes on a picnic. The guys transacting on the fact rather than the rumour end up losing their own or their clients' shirts or pants and are overrun by a tsunami triggered by the hooves of the herd. An asset bubble then emerges. >

<> Quickly reflecting a common man’s reaction > The writer very truthfully brings to focus, point blank, the pervading  truth, nothing but the truth, behind the whole economic scenario threatening to engulf  the very fundamentals of so called and loudly trumpeted, but deceptively so ,- 'economic growth'!

The roguish forces driving the economy in a crazy manner and wrong direction, like a drunken car driver, compendiously named ‘soothsayers’ are undoubtedly responsible for the tragedy fast enveloping the health of the nation,- as impressively stressed in the two paras. with opening words, - “For those of us who have been bewildered by the twists and turns of this unfolding drama, ....”and “To cut a long story short, what this herd behaviour does is vitiate the basic principles that Economics 101 teaches. ....” alarmingly sums up the surrounding threat.  The sooner every right thinking person, -amongst the specially enlightened populace, not barring those wearing the cloak of ‘regulatory authority (ies)’, howsoever in a minority they happen to be, - wake up and speedily conceive of ways and means, and put into effective action, to the end of stopping the march towards the impending disaster, the burst of the cryptically called ‘asset bubble’, the better hopes for survival.  

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Fleeing Delhi to avoid Diwali madness? - The Times of India‎ 


 Panel to frame norms to help apartment owners


< "Anomalies in the construction and ownership of apartments are a common problem these days due to lack of regulatory measures, so we're framing new rules,'' said UDD principal secretary PN Sreenivaschary. 

The panel comprises members of the departments of town planning, parliamentary affairs and cooperative societies, BBMP and BDA. It'll mainly look at revising the existing Karnataka Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1973 (KOFA) and the Karnataka Apartment Ownership Act, 1972 (KAOA). The aim is to come up with a new legislation after removing all the loopholes in these Acts.

Acting on suggestions of officials as well as civil society, the committee is expected to submit its report by December. It'll take into consideration the Model Apartments Bill and the Real Estate Bill of the Centre, before mooting new rules for the implementation of the Karnataka Apartment Ownership Bill Act, 2012. >< ???????????????


 Businessman Raghunath Giridhar, who owns a flat in an apartment complex off Tumkur Road, found the builder converting a large portion of the premises into a commercial enterprise. When he challenged it in court, there was ambiguity as the apartment was registered under the Cooperative Societies Act which doesn't clearly define powers and functions.>

< Not at all surprising that ,-"There are no comments on this article yet."

Coming to think of it > While the reported development in a way makes for a breather, nonetheless sounds a bolt from the blue. No commoner seems to have even heard of before hence no knowing what the two ‘Bills’ and one “Bill Act” really refer to.  As to what exactly those are and do have in store for a betterment or improvement of the long obtaining state of affairs remains a mystery. At least a brief account would have been of help. To add, -no useful info. is readily available even in any of the realty related governmental or other websites. Any help?


Far from lacking in clarity, very confusing and ...must have sent jitters down the spine of those with some reasonable know of..but been continuing to live in animated suspense - in sin, with a deep sense of helpless and hapless remorseful feelings and thoughts. ?!

What really is in store is anybody's guess , nay wild imagination !

‘Petition against Sinha was to protect vested interests of business lobbies’

U.K. Sinha The Supreme Court has observed that the anxiety of ‘some very powerful business houses’ for removal of U.K. Sinha as SEBI Chairman is not unthinkable. The Supreme Court, on Friday... »


Supreme Court sees corporate lobby against Sebi

Recently, in the case of Larsen & Toubro, the Larger Bench ruled that Value Added Tax (VAT) would apply on “under-construction property”, and upheld two earlier decisions from the Supreme Cour... »

For almost a decade, there has been no major change or improvement in Indian GAAP, leaving it outdated. »
The CA Institute’s power to regulate the profession and issue accounting/ auditing standards has been significantly curtailed. »
In a major step to fuel the growth of the country’s real estate sector, SEBI recently released a consultation paper together with the draft Real Estate Investment Trust 2013 (REIT) regulations. Is... »
Companies Act 2013 has made it mandatory for listed companies to establish a vigil mechanism for reporting genuine concerns. Further, the draft rules issued by the Ministry of Comp... »
Information technology is today a $100-billion industry in India, employing three million and constituting 8 per cent of the GDP. However, the sector has recently been dogged by slowing topline gr... »

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