The income tax department permits joint owners of single house property to file the income tax return by simply using Form-1 (Sahaj) or Form-4 (Sugam). On 3 January, the taxpayers who had owned a house in joint ownership were debarred, and those who had paid Rs 1 lakh of electricity billed in a year or […]
Joint property owners can file income tax return using this forms.more
Homebuyers opposed the central government’s ordinance to amend the Insolvency & Bankruptcy Code (IBC) 2016 and demanded a stay of the operation of Section 3 of the Insolvency and Bankruptcy Code (Amendment) 2019, which aims to modify Section 7 of the IBC. “The writ petition is filed by 11 petitioners from 11 different projects, including […]
Homebuyers filed a writ petition in SC challenging IBC amendment.more
Under Section 7 of the Insolvency and Bankruptcy Code 2016, the National Company Law Tribunal (NCLT) started a procedure for corporate insolvency resolution against Efferent Real Estates located in Delhi. Gaurav Katiyar has been named by the courts as the Interim Resolution Professional (IRP) for the case. The buyer through his lawyer Piyush Singh of […]
NCLT takes action against Efferent Realtors under Insolvency and Bankruptcy Code.more
The Maharashtra Real Estate Regulatory Authority (MahaRERA) took action against 21 real estate developers, who have not followed the Real Estate (Regulation & Development) Act (RERA) registration, and also did not apply a list of customers who booked their homes for further action under Section 7 and 8 of the RERA Act. The provisions of […]
MahaRERA took suo moto action against 21 developers.more When it comes to registering real estate projects and also concerning grievances, Maharashtra can have the best place between states. Nonetheless, that is where the distinction stops. The state has no information to simplify the purchasing decision for the consumers. The action-taken-report remains missing; moreover, most of the consumers and lawyers are unhappy about the […]
Consumers and Lawyers declare their unhappiness for the complaints under MahaRERA.more
The Economic Offenses Wing of Mumbai Police On Friday, in a Metropolitan magistrate court, filed a 32,000-page charge sheet against five persons at multi-crore Punjab and Maharashtra Cooperative (PMC) Bank scam. The charge sheet has been marked by Joy Thomas, former director of the bank, Waryam Singh, former chairman, Surjit Singh Arora former director of […]
EOW filed 32,000- page charge sheet against the promoters of HDIL and others.more
Nearly 10 months after MahaRERA issued Rs 24 Crore recovery warrants against Nirmal Developers after they failed to repay 80 home buyers in Mulund for Nirmal Olympia project, the buyers’ money have yet to be refunded. Homebuyers are now stuck in the blame for the recovery battle between Tehsil officials (who conduct the recovery process) […]
MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.more
About $8.7 billion, which constitutes 25%, is under severe strain at the moment from the sum of $35 billion loan advances offered to developers within the Mumbai Metropolitan Region (MMR). The ANAROCK property consultancy study showed that this is around twice the total loan stress in the National Capital Region (NCR) of $4.3 billion. The […]
MMR realty stands at $8.7 billion under loan severe stress, that is 25% of the total loan advances.more
The Bombay High Court in Goa questioned the procedure of release confiscated tons of illicit-extracted sand and gravel after paying an insignificant fine, coming under heavy pressure from the government. The high court, which found it unconstitutional, said this would enable only further extraction of sand and gravel from riverbeds and riverbanks. “These individuals will […]
High Court ordered the Goa government to stop illegal sand mining with paltry fines.more
When forensic auditors found theft of funds, the Supreme Court ordered the government to take over control of the Unitech real estate developer. “The auditors reported that at least Rs 5,000 crore of funds received from home buyers were not used to building projects,” said Pawan Shree Agarwal, amicus curiae on the subject, on Wednesday. […]
Forensic auditors assigned by SC found Rs 5,000 crore diverted funds by Unitech real estate developer.more
