Trent Wallis Photography

Charges For Rent Agreement

by on Sep.14, 2021, under Uncategorized

It is the owner`s responsibility to ensure the registration of the rental agreement, failing which the landlord may have to pay a penalty of Rs 5,000 and punish himself with a prison sentence of up to three months. In the event that the leave and license contract is not registered and disputes arise between the lessor and the tenant, the contractual conditions invoked by the tenant are considered to be the real and correct conditions in which the property was given for rent, unless proven otherwise. In order to reduce the frequency of stamp duty, people used to pay a considerable amount as an interest-free deposit with the nominal rent. This gap has been filled and now, in cases where a refundable bond is recovered by the owner, a notional annual interest rate of 10 percent is charged to that interest-free deposit and you have to pay stamp duty at the same rate, on that interest for each year of the term of the license agreement. Make sure the mandate is clearly stated. Amit rented his apartment in Vikas….

No comments for this entry yet...

Comments are closed.

Looking for something?

Use the form below to search the site:

Still haven't found what you're looking for? Drop a comment on a post or so I can take care of it!

Archives

All entries, chronologically...