If a spouse purchased a property with legitimate funds, buying it under his wife’s name does not automatically make it a Benami property.According to the Delhi High Court, “the existence of properties in the name of the wife will fall as an exception to the prohibited Benami transaction, as it is legally possible for a person to purchase an immovable property in the name of his spouse from known...
The Benami Transactions (Prohibition) Act, 1988, was enacted. This Act, for example, defined a Benami transaction as “any transaction in which property is transferred to one person in exchange for a compensation paid or furnished by another person.” The Benami Transactions (Prohibition) Amendment Act, 2016, revised the Act mentioned above to provide an effective system for the prohibition of Benami...
Benami is derieved from Hindi word that literally translates to nameless, but in this context, it means holding property in someone else’s name or even a fictitious name to hide the real identity of the beneficial owner to evade the tax and hide from Tax agencies. Benami property refers to any property that is the subject of a Benami transaction which is done on some others name to hide the property...
It is pretty much tricky and difficult to procure a home for freelancers and gig workers The clear mandate for a home loan application for the longest time has been – salaried candidate, regular payslip, F-16, ITR papers, etc. “While these criteria are preferred by most lenders since they make it easier for the lender to ascertain the ‘payment capacity of the borrower’, it is not the only tenet...
Documents required to applying for conversion. Application form for Land Conversion Basic Value certificate from Sub-Registrar Ration card Pattadar Passbooks Land title deed EPIC Card Aadhar Card Procedure for land conversion The landowner needs to submit the land conversion form online through the MeeSeva center by paying prescribed fees. After approval of the application, a competent authority...
NALA means Non-Agriculture Land Assessment Act which regulates the process of converting agriculture land to Non-Agriculture and other purposes such as industrial, commercial, residential, venture development for plotting, or Construction activities for habitation, etc. Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities by paying...
NALA means Non-Agriculture Land Assessment Act which regulates the process of converting agriculture land to Non-Agriculture and other purposes such as such as industrial, commercial, and residential, venture development for plotting, or Construction activities for habitation, etc. Conversion of agricultural land into non-agriculture purposes by taking prior permissions from competent revenue authorities...
The collector of Nalgonda district is all set to put the auctioning of plots of Srivalli Township on march 14-17 with a base price of 7000 per Sq yard. The earlier upset price was 10,000 per Sq yard. The decision was taken by the government after 3 bidding meetings. Bidders have shown interest in auctioning plots in Srivalli Township which is located on Narketpally-Addanki highway and falls under gram...
Telangana CM KCR has made it clear that there will be no drinking water problem in Hyderabad in the future. Speaking in the assembly, he said that there are 32 lakh 600 acres of land under G.O.111. Revealing that 83 villages and 6 zones are within the G.O. He said that the twin reservoirs are protected water bodies as per G.O. 111. But Hyderabad does not need Usmansagar and Himayatsagar waters now because...
Hyderabad: The government has allocated Rs 29,271 crore to the Panchayati Raj and Rural Development Departments. Rs 3,330 crore for rural development. Grants of Rs 500 crore to Mandal Parishads and Rs 227.50 crore per month to Gram Panchayats. 1,054.07 crore from the State Finance Commission to the Panchayats. Panchayati Raj, highest in the budget of Rural Development Departments The government has set...