E-stamping has now become the standard for legal agreements. A few shops might still sell old physical stamp papers in stock, but they will be running out of stock soon.
It is easy to get E-stamps. Visit a registered vendor, share names and details of the people involved, explain the type of deal (like sale or rent), and pay the fee. The vendor will print your e-stamp paper instantly-it’s ready to use with a unique code for legal proof.
The world watched with great interest as the U.S. election unfolded, ending in Donald Trump’s return as the president. But what truly caught my attention was the unexpected support from a community of people called the Amish. Known for their simple, electricity-free lifestyle and minimal participation in politics, the Amish showing up in large numbers to vote for Trump was a surprising. The reason why they did is because they were not happy with so many regulations that government came up with which affected their way of life.
This wave of participation, even from groups that usually stay away from the polls, reflects a deeper sentiment among the people. It shows widespread dissatisfaction.
Mr.Trump’s participation in long-form content like podcasts, worked to his advantage. It wouldn’t be surprising to see Modi-ji, Rahul-ji, or other savvy local politicians adopt similar long-form podcast formats in the next elections. This approach has proven to be an effective way to connect with a diverse audience, provided the politician has the mental capacity to engage beyond scripted formats.
There is often a gap between the state and its citizens, but this election made one thing clear,people in the US were calling for a change.
I am curious to see if Mr. Trump, who has firsthand experience with the nuances of running a business and understands what it’s like to be on the other side of bureaucratic red tape, including its inefficiencies and wasteful spending, can lead a team that brings about any real change and shifts things in a new direction. Or, is the whole thing just a big show without any real substance?
Update : As of October 10, 2024, the Goods and Services Tax (GST) regulations have been updated to include the renting of commercial properties under the Reverse Charge Mechanism (RCM).
This change specifically affects transactions where an unregistered person rents out commercial property to a registered person.
That is, if you are a GST registered business renting commercial property from an unregistered landlord, you are now responsible for paying the GST on the rental amount directly to the government. You can, however, claim Input Tax Credit (ITC) for the GST paid, subject to the usual conditions.
However, If you are not registered under GST, you are not liable to pay GST on the rent, even if the landlord is unregistered.
The below are the potential scenarios.
Scenario 1 - Owner and Tenant has No Gst registration
When neither the tenant nor the landlord is registered for GST, no GST applies to the rent.
In this case, neither party has to pay or collect GST.
Scenario 2 - Owner has Gst registration and Tenant has No Gst registrationIf the landlord is registered but the tenant isn’t, the landlord includes GST in the rent amount and collects it from the tenant.
The landlord is responsible for filing the GST collected, and no special mechanisms or tax credits apply since the tenant is unregistered.
Scenario 3 - Tenant has Gst registration and Owner doesn't have Gst registration
When the tenant is registered, but the landlord isn’t, the tenant is required to pay GST directly to the government.
This is handled under the Reverse Charge Mechanism (RCM), where the tenant files the GST themselves.
The tenant can then claim an input tax credit (ITC) on the GST they’ve paid, which reduces their tax liability.
Scenario 4 - Both Owner and Tenant has Gst registration
Finally, if both the landlord and tenant are registered, the landlord charges GST on the rent and collects it from the tenant.
The landlord files the GST as usual.
Since the tenant is also registered, they can claim an input tax credit on the GST paid, reducing their overall tax burden.
Note : Please talk to a Chartered Accountant for validation.
When you sell an asset (in this case, real estate), a portion of the profit must be given to the government as capital gains tax.
This is classified as either Short-Term Capital Gains (STCG) or Long-Term Capital Gains (LTCG), depending on the duration of ownership.
Following the Union Budget 2024-25, there have been significant changes in the capital gains tax rates applicable to real estate investments in India:
The tax rate for LTCG on real estate has been reduced from 20% to 12.5%.
However, a crucial change is that the indexation benefit—which adjusted the purchase price of the property for inflation—has been removed for properties purchased after April 2001.
This means that while the tax rate has been lowered, investors may face higher tax liabilities due to the inability to factor in inflation.
Properties bought before 2001 still retain the indexation benefit, and sellers can use the fair market value as of 2001 for LTCG calculations.
Let’s say you bought a house for 10 lakhs a few years ago and are now selling it for 30 lakhs. Without indexation, your profit (or capital gain) is simply 20 lakhs (30 lakhs - 10 lakhs).
You would have to pay tax on this 20 lakhs.
With indexation, the government allows you to account for inflation (how prices increase over time). What 10 lakhs could buy 10 years ago can’t buy as much today because things have gotten more expensive. Indexation adjusts your original purchase price to reflect this change in the value of money.
So, instead of just using 10 lakhs, you adjust it to what 10 lakhs would be worth today because money loses value over time due to inflation. For example, 10 lakhs back then might be worth 20 lakhs in today's money.
After this adjustment, your buying price might be considered as 20 lakhs. Now, your profit (capital gain) is only 10 lakhs { 30 lakhs [ selling price ] - 20 lakhs [ purchase price adjusted with indexation] }, so you pay less tax.
Indexation helped in reducing your tax because it recognizes that the value of 10 lakhs years ago isn’t the same today. Now it is not more the case.
The tax rate for STCG on real estate transactions (for properties held for less than 24 months) has been increased to 20% from the earlier rate of 15%.
Investors with shorter holding periods (under 24 months) may see higher tax liabilities due to the increased STCG rate. Meanwhile, those with longer-term holdings may benefit from the reduced LTCG rate. However, the removal of the indexation benefit for properties purchased after 2001 could offset some of this advantage, potentially resulting in higher tax liabilities despite the lower LTCG rate.
The arrival of 'San Fernando' [ a container ship ] on July 11 2024, marks a significant milestone [ commencement of operations ] for the Vizhinjam International Seaport and Kerala's economic development.
The port's operation is expected to boost trade, create jobs, and enhance the state's strategic importance in global maritime trade.
The port's ability to handle large container ships can attract more international shipping companies, increasing the volume of trade and contributing to the local economy.
The development of Vizhinjam Port is likely to influence further infrastructure projects, such as improved road and rail connectivity, boosting overall regional development.
The port may also drive investments in related sectors, such as logistics, and real estate.
We hope Trivandrum is on a upward trajectory in the decades to come.
For real estate related services in Trivandrum, please do call - AJ And Associates
Our values shape our decisions, which in turns build our character. Our character attracts like minded people, that forms our network, and our network influences our net worth and business.
For us, our core value is conducting business with integrity. We are dedicated to serving those who need our services to the best of our ability.
We have delivered results for hundreds of clients and have learned from several hundreds of our failures along the way.
We can help you with:
1) Rental and sale of all types of commercial properties across Trivandrum
2) Residential properties in selected localities in Trivandrum
3) Land rental and sales in selected localities in Trivandrum
You Visit our website : www.ajandassociates.in
Contact us and we can discuss your requirement in detail.