Legal Question in Real Estate Law in India
i and my wife jointly own an ownership flat at kolkata suburbs. we want to give our flat to someone on rent for 22 months. what type of agreement- lease & licence agreement or tenancy agreement, is safe for us ? single agreement for 22 months or two agreements for 11 months each, is safe. whether there is any service tax liability on rent received ? please guide.
Asked on 8/18/12, 1:32 am
2 Answers from Attorneys
Mirza Safiulla Baig
Baba & Baig Law Firm
11 months agreement is safe,
yes, you will have service tax liability on rent received if it more than the prescribed limit.
Answered on 8/27/12, 12:58 pm
Shrichand Nahar
S.V.Nahar, Advocate
Check local laws applicable to area where flat is and act accordingly.
Answered on 9/30/12, 9:26 pm
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