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The Limitation Act, 1963 , is a crucial piece of legislation in India that defines the time limits within which legal actions must be initiated. It aims to ensure that cases are filed within a reasonable period, preventing indefinite delays and maintaining judicial efficiency. Understanding this law is essential for individuals and businesses dealing with legal matters related to contracts, property, civil disputes, and more. What is the Limitation Act, 1963? The Limitation Act, 1963 , sets specific timeframes within which different types of legal proceedings must be initiated in Indian courts. If a lawsuit is not filed within the prescribed time, the right to seek legal remedy may be lost. The law ensures fairness, prevents misuse of legal rights, and promotes legal certainty by barring outdated claims. Key Objectives of the Limitation Act ✔ Prevents Legal Uncertainty – Ensures that claims are made within a fixed timeframe, avoiding prolonged disputes. ✔ Encourages Timely Justice ...

Adverse possession is a legal principle that allows a person to claim ownership of a property if they have occupied it continuously and openly for a specified period without the permission of the rightful owner. In India, this principle is governed by the Limitation Act, 1963 , which sets specific conditions under which adverse possession can be claimed. Understanding Adverse Possession Adverse possession arises when a person occupies another’s property without legal title and continues to do so for a prolonged period. If the original owner does not take legal action to reclaim the property within the prescribed time, the occupant may gain legal ownership. Legal Provisions Under the Limitation Act, 1963 According to Section 27 and Article 65 of the Limitation Act: If a person possesses a property continuously for 12 years (for private property) or 30 years (for government land) without interruption, they can claim ownership through adverse possession. The possession must be hostile...

When buying a property, terms like sale deed and title deed are often used interchangeably. However, they are not the same. Let’s break down the key differences. 📜 1. Sale Deed vs. Title Deed: Understanding the Basics A title deed is a concept , not a specific document. It represents ownership rights over a property. A sale deed is a legal document that transfers ownership from the seller to the buyer. 🏡 2. Legal Differences Between Sale Deed & Title Deed A sale deed is an agreement between a buyer and seller that finalizes the property transfer. A title deed is a statement proving ownership and outlining rights, obligations, and liabilities. 💡 Once a sale deed is registered, it serves as a title deed, confirming ownership. 🔍 3. How a Sale Deed Traces Property Titles Before registering a sale deed, sellers must provide a chain of ownership records to prove clear title history. A sale deed becomes part of this chain and ultimately acts as a title document.

Homebuyers may find themselves in situations where they need to cancel a flat booking due to various reasons—financial constraints, change of plans, or concerns about the project. If you are considering cancelling your flat booking , here’s what you need to know about refund policies, legal aspects, and financial implications . 1. Can You Get a Full Refund if the Agreement is Not Registered? If you have paid a booking amount but haven’t signed a registered agreement , the builder is legally required to refund the entire amount. For example, if a buyer pays ₹3 lakh as a booking amount for a property worth ₹1 crore but later decides to cancel, the builder must return the full amount. 💡 Key Point: A builder-buyer agreement is typically created after you pay at least 10% of the property value . Once this agreement is signed and registered, the cancellation process becomes more expensive. 2. What to Do If the Builder Refuses to Refund Your Booking Amount? If the builder denies a refund ...

The highly anticipated Hyderabad Metro Rail Phase II expansion remains under active consideration despite the absence of dedicated funds in the Union Budget. Senior government officials have confirmed that approvals for the ₹24,269 crore project are expected in the coming months, as it progresses through technical evaluations. Project Overview and Evaluation Process The second phase of the Hyderabad Metro Rail project aims to expand the metro network by 76.4 km across five corridors in the city. The proposal is currently undergoing a detailed technical evaluation by the Union Ministry of Housing & Urban Affairs , with key ministries such as railways and surface transport also involved in the assessment. Although the recent Union Budget did not allocate funds for the project, officials remain optimistic. A senior government official stated that since the project aligns with central guidelines for metro rail joint ventures , there is a strong possibility of securing approvals soo...

NAREDCO Calls for a 25-30 Basis Points Reduction in Repo Rate The real estate sector is advocating for a reduction in the repo rate to stimulate housing demand and promote economic growth. The National Real Estate Development Council (NAREDCO) has requested the Reserve Bank of India (RBI) to lower the repo rate by 25-30 basis points in the upcoming monetary policy review. According to NAREDCO President G Hari Babu, while the real estate market is witnessing strong growth and positive sentiment, a lower repo rate will further accelerate this momentum. A marginal cut would indicate RBI’s supportive stance, benefiting not only the real estate industry but also allied sectors like construction, cement, and steel. Lower Interest Rates to Encourage Homebuyers and Developers A reduction in the repo rate will have a dual impact on the real estate market: Boost Homebuyer Sentiment: Lower interest rates translate to cheaper home loans, making property purchases more affordable. Support Develope...

The Union Budget 2025 introduces a significant relief for fixed deposit (FD) holders by increasing the TDS (Tax Deducted at Source) threshold on interest income. The limit has been raised to ₹50,000 for general citizens (up from ₹40,000) and ₹1 lakh for senior citizens (doubling from ₹50,000). This change will take effect from April 2025 and aims to simplify tax deductions while easing the financial burden on depositors, particularly retirees. New TDS Limits on Fixed Deposit Interest 📌 For General Citizens : The TDS threshold is now ₹50,000 , compared to the previous ₹40,000. 📌 For Senior Citizens : The exemption limit has doubled from ₹50,000 to ₹1 lakh , offering significant tax relief. This means less TDS deduction on interest earnings , allowing depositors to retain more of their money. How TDS on Fixed Deposit Interest Works TDS is deducted when FD interest earnings exceed the specified threshold in a financial year. Banks deduct 10% TDS if the depositor provides their PA...

Budget 2025 Eases Tax on Multiple Homes The Union Budget 2025 brings a significant tax benefit for homeowners , allowing them to claim nil annual value on two self-occupied properties without additional conditions. This reform simplifies tax calculations and provides greater financial flexibility to taxpayers. Key Tax Benefits for Homeowners ✅ Homeowners can now claim nil tax on two self-occupied properties. ✅ Previous conditions, such as residing elsewhere for work, have been removed . ✅ The move simplifies tax filing and eases the financial burden on middle-class taxpayers. Elimination of Restrictions on Second Home Tax Benefits 🔹 Earlier, a second property’s notional rent was taxable unless the owner lived away for work. 🔹 The new policy removes this restriction , providing greater tax relief. 🔹 Experts believe this will encourage real estate investment and support homeowners. How This Change Benefits Taxpayers? 💡 Reduces complexity in property tax filings. 💡 Enhances fin...

Increased TDS Limit on Rent The annual threshold for TDS on rent will be raised from ₹2.4 lakh to ₹6 lakh . Announced by the Finance Minister on February 1, 2025 , during the Union Budget. Relief for Small Taxpayers Fewer rental transactions will be subject to TDS. Beneficial for small taxpayers receiving lower rental income . Amendment to Section 194-I of the Income Tax Act Previously, TDS applied when annual rent exceeded ₹2.4 lakh . New rule: TDS will now apply only if monthly rent exceeds ₹50,000 . Applicable to non-individuals and HUFs paying rent to a resident.

Income Tax Benefits No income tax on monthly income up to ₹1 lakh , boosting middle-class savings & spending. Salaried individuals earning up to ₹12.75 lakh per year to pay zero tax under the new regime. Updated Income Tax Return (ITR) filing limit extended from 2 to 4 years. TDS on rent threshold increased from ₹2.4 lakh to ₹6 lakh. Delay in TCS payment decriminalized. Development & Economy 4 engines of growth: Agriculture, MSMEs, Investment, Exports. Fiscal deficit target: 4.8% for FY-25 , reducing to 4.4% in FY-26. ₹1 lakh crore Urban Challenge Fund for developing cities as growth hubs. ₹20,000 crore allocated for private sector-driven R&D and innovation. Agriculture & Rural Development PM Dhan-Dhaanya Krishi Yojana to benefit 1.7 crore farmers in 100 low-productivity districts. Atmanirbharta in Pulses Mission to focus on Tur, Urad, and Masoor dal. KCC loans up to ₹5 lakh under modified interest subvention scheme. MSMEs & Manufacturing MSME credit guar...

The Union Budget 2025 has introduced stricter tax rules for Non-Resident Indians (NRIs), making financial compliance more challenging. These new regulations particularly impact Indian students and young professionals abroad, increasing their reporting responsibilities and tax liabilities. The government aims to align with global tax norms, but this move adds financial complexities for NRIs managing earnings between their host country and India. Key Changes in NRI Taxation 1. Stricter Monitoring of Foreign-Income Indian tax authorities will now receive better financial data through global agreements. NRIs, including students working abroad, may need to declare their foreign earnings in India. India’s Double Tax Avoidance Agreements (DTAA) will play a critical role in taxation policies. 2. Expanded Residency Definition for Taxation Earlier, NRIs were taxed on Indian income if they stayed in India for over 182 days per year. Budget 2020 reduced this to 120 days for high-income NRIs. Budge...