MahaRera Appellate Tribunal order dt 29 June 2020 holding that forfeiture of booking amount is bad as the customers are forced to sign on one sided clauses. Relying on SC judgement in Pioneer Land and Infrastructure Vs. Govindan Raghavan in Civil Appeal No.72238 of 2O78 decided on 2nd April 2019 by Supreme Court, directions to refund the booking amount of Rs.6.95 lacs towards 5 % flat value
This judgement now mandates that one sided clauses used to forfeit booking amounts will not be upheld by courts… Presumption of unfair negotiation and one sided clauses…
Another pro consumer and testing time for developers….
Click Here for the judgement -21466 OF 2019
Does that mean that any assurances in the house have no sanctity?
The full text of the order is available here
Many cooperative societies have rented a portion of their respective terrace for cell tower installation. In the income tax such earning should be shown as income from house and not from other source of income. in income return one should show the cell tower space rent as “income from house property” and can get 30% set off in computation of taxable income. In case cell tower rent is shown as “Income from other sources” or “income from business” the 30% set off will not be allowed. Since terrace is a portion of “house”, such income from House property is justified.
However, Bye Law 169 prohibits renting of common areas, therefore, such earning are illegal earning. Therefore, an offence.
Audit of many societies are in progress. Take proper care for computation of taxable income.
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No Need to Go to Police Station for getting Rent Agreement NOC
Just have to Login to “Citizen Portal” website Maharashtra Police & enter details of Licensor & licensee.
Upload the documents & Take a Printout…
Co operative housing society having members up-to 250 can conduct election without appointing Polling Officer
Find enclosed “RAJPATRA” dated 9 th March 2019
Housing Society chapter
HEMANT AGARWAL’s Analysis on:
PROFESSION TAX on HOUSING SOCIETIES:
SUBJECT only to State of Maharashtra, under the “Profession Tax Act” and statutorily applicable without any exceptions to “Cooperative Housing Societies”, registered under the “Maharashtra Cooperative Societies Act
Click Here for the full document