0

GOODS AND SLABS

Goods and Services that charge 5% tax
Under the Goods and Services Tax, different goods and Services carry different percentages of tax to be paid. Below you will find a list of products and services and the amount of  tax that is charged for them.
Goods and Services exempted from tax:

Goods Services
Milk Local Trains
Bread Hotels below Rs. 1000
Fruits  
Vegetables  
Salt  
Wheat flour  
Chicken  
Eggs  
New paper  
Printed Books  Goods and Services that charge 28% tax

Goods Services
Tea/Coffee 1st Class AC coaches on trains
Cooking Oil Regional Connectivity Airports
Branded gains and  

0

MODEL TENANCY ACT

In the preceding months, as a result of the outbreak of the COVID-19 virus, multiple  lockdowns, the guidelines set by the government to control the spread of the deadly virus, many people living away from their family found themselves moving back to stay and be with their families during the difficult period. This resulted in many tenants vacating their houses and other people looking for new houses to rent, raising questions like
• How much security deposit can the owner/property manager charge me?
• What happens if I stay in a house post your rental agreement?
• When can a landlord/property manager enter the premises that have been rented out to you?
These are just some of the questions the Model Tenancy Act will answer.
 “The existing rent control laws are restricting the growth of rental housing and discourage owners from renting out their vacant houses due to fear of repossession. One of the potential measures to unlock the vacant house is to bringing transparency and accountability in the existing system of renting of premises and to balance the interests of both the property owner and tenant in a judicious manner,” says the new Act, piloted by the Ministry of Housing and Urban Affairs.
The MTA sets a ceiling on the amount of security deposit an owner/landlord can collect from a tenant i.e. not more than two months rent in the case of residential premises and 6 months for non residential properties.
If a tenant continues to reside in the rented property after the rental agreement has come to an end, the owner/landlord is entailed to double the rent for a period of two months and charge four times the rent beyond that.
It is not an uncommon practice for owners/property managers to want to visit the house premises to ensure the property is being maintained well. The MTA lays out a protocol that must be followed by the owner/landlord/property manager before making such visits.  The owner/landlord/property manager may enter the premises only after issuing a notice, in writing or electronically, to the tenant not less than 24 hours before entering the premises.