Posts Tagged “as”

Pay double property tax as penalty if violated building plans in Bengaluru

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Pay double property tax as penalty if violated building plans in Bengaluru

Property owners in Bengaluru who have violated building plans will now have to pay double the property tax as penalty, the Cabinet decided on Friday. Briefing reporters, Law Minister J C Madhuswamy said the Cabinet approved an amendment to the Karnataka Municipal Corporations Act to include the Bruhat Bengaluru Mahanagara Palike (BBMP) in order to levy…

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Goliaths of India property rise as slowdown swallows small firms

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Goliaths of India property rise as slowdown swallows small firms

Indian home buyers are flocking to the nation’s well-funded publicly traded developers as risks of stalled and delayed housingNSE 1.23 % projects mount at smaller players in the industry. While overall home sales remain weak, India’s top nine listed real estate companies saw sales jump 159% in the year ended March from 2017, when the slowdown began,…

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SBI mega property e-auction tomorrow: How to register as a bidder

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SBI mega property e-auction tomorrow: How to register as a bidder

The State Bank of India will auction non performing assets (NPAs) worth ₹700 crore this month to recover its dues from those borrowers. The bank will hold a mega e-auction on 5 November and also plans to hold a total of three auctions in this month. The bidders can bid for the properties online after they get themselves registered online…

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Income-tax law does not consider all inherited assets as ancestral property

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Income-tax law does not consider all inherited assets as ancestral property

Not all properties that you inherit can be termed as ancestral property for tax purposes. Ancestral property is defined as one which a person inherits from any of three immediate male ancestors—father, grandfather and great grandfather. Properties inherited from any person apart from these three relations are not considered as ancestral properties, according to the Income-tax Act,…

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