Legal Junction | Online Rental Agreement Services Pune

A leave and license agreement is an instrument/agreement wherein the licensor allows the licensee to temporarily occupy and use one portion of immovable property for carrying on his business for residential purposes.

The taxes on income can be finalized only on the completion of the previous year. However, to enable a regular flow of funds and for easing the process of collection of taxes, Income-tax Act has provisions for payment of taxes in advance during the year of earning itself or before completion of previous year. It is also known as Pay as your earn concept.
Taxes are collected by the Government through the following means:
Voluntary payment by taxpayers into various designated Banks such as Advance tax, Self-Assessment tax, etc.
Taxes deducted at source
Taxes collected at source
Equalisation Levy

ITR stands for Income Tax Return. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department. It also allows carry -forward of loss and claim refund from income tax department.Different forms of returns of income are prescribed for filing of returns for different Status and Nature of income.

Total income of a taxpayer from all the heads of income (as discussed in previous FAQ) is referred to as Gross Total Income.

Any person who is legally entitled to enter into a contract may take a property under lease or leave and license.

A buyer could ask you for the original Sale Deed, Title Deed, relevant tax receipts and Encumbrance Certificate.

Only the buyer pays the Stamp Duty.

Yes. You can get it done at the sub-registrar's office of the concerned district.

The sale of a residential property is said to have been formalized if the seller has received the entire consideration amount, registration of the documents has been carried out and actual possession of the property has been granted to the buyer.

Yes. But the procedure and forms may vary from state to state depending on the location of the property. Every state in India has formulated its own set of forms under the registration rules. These forms are to be filled up and filed at the time of Sale Deed/Transfer Deed registration.
Under the Income Tax Act and rules for a sale transaction, the buyer and seller must provide their PAN card number and in the event of a sale, either the seller and/or the buyer would need to fill up Form 60 of the Income Tax.
If the buyer or the seller is a Non-Resident Indian (NRI) not assessed for taxes in India, the person would not need to file Form 60 of the Income Tax.

Health insurance is an insurance product that provides cover for the medical and surgical expenses of an insured person, in case of a medical emergency. However, you are required to pay a premium to avail health insurance policy.

You should purchase health insurance to avoid losing your lifelong savings while paying for medical bills in a critical situation.

Your health insurance will either pay your hospital bills directly if opted for the cashless facility or it will reimburse any payment made by you towards medical expenses incurred due to an illness or injury.

While the eligibility age for health insurance policies differs, the general eligibility age for adults ranges between 18 years up to 65 years. The eligibility age for children lies between 90 days up to 18 years.

Yes! If your plan allows, you can gain coverage for self, spouse, children, dependent parents, and multiple other relationships such as parents-in-law, siblings, and others.

A fiduciary works in the best interest of the client. Nonfiduciaries need only to recommend products that are “suitable” — even if they're not the lowest-cost or most ideal for you.

Advisors can use a variety of fee structures. To keep it simple and avoid conflicts of interest, focus on fee-only advisors. They don’t get commissions for selling products.
"Make sure it’s fee-only — those particular words," says Alice Finn, founder of PowerHouse Assets and author of "Smart Women Love Money," a guide to investing. (Some of the questions here are from her book.)
Fee-only advisors might charge a percentage of the assets they manage for you (1% is common), a flat fee for services or an hourly fee. If cost is a concern, you may want to go with a low-fee robo-advisor or an online planning service like those mentioned above.

In addition to paying the advisor, you’ll face other fees — and you'll want to know what they are. Fees can decimate your savings over time. A NerdWallet analysis found that a 1% mutual-fund fee could cost millennials $590,000 in retirement savings. "You can lose half your net worth without even knowing it," Finn says. "You want to be vigilant."

Financial professionals can have a confusing list of initials behind their names. And whether a finance professional goes by "investment advisor" or has the CFP designation, it's your job to vet them. The Financial Industry Regulatory Authority's professional designations database will tell you what they mean; if there are any education requirements; if anyone accredits the designation; whether there's a published list of disciplinary actions; and if you can check professional status.
You can also use a Form ADV to check an advisor's record.

Put another way: How much access will you have to the advisor? You want to know how often you’ll meet and whether she's available for phone calls or emails outside of scheduled appointments. (Learn more about what financial advisors do and what you can expect from the relationship.)

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