NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
EXEMPTION FROM RATEABILITY The term “exemption from rateability” typically refers to a situation where a property owner is not required to pay rates or property taxes on their property. This may occur for a variety of reasons, including: Government exemption: Some properties may be exempt from rates or property taxes by law, such as government-owned […]
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HYPOTHETICAL TENANT AND HYPOTHETICAL RENT A hypothetical tenant is a theoretical or imaginary person who might occupy a rental property. This could be someone with a certain income level, family size, occupation, or lifestyle. Hypothetical tenants are often used in real estate analysis to estimate the demand for a property and the potential rental income
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RENT AS EVIDENCE OF ANNUAL VALUE The concept of annual value is commonly used in property taxation and refers to the estimated annual rental income that a property could fetch if it were to be rented out on the open market. This value is used as a basis for calculating property taxes, such as rates
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AGRICULTURAL LAND AND DIRECT TAX LAWS Agricultural land is a crucial aspect of any country’s economy, as it serves as the primary source of food and raw materials for many industries. Direct tax laws, on the other hand, are regulations that govern how taxes are collected and paid by individuals and organizations. In many countries,
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METHODS OF VALUATION OF AGRICULTURAL LANDS Valuation of agricultural lands involves determining the market value or fair value of the land based on various factors such as soil quality, location, accessibility, productivity, land use regulations, and other characteristics that may impact the value of the land. The valuation is important for various purposes, including buying
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FACTORS AFFECTING VALUE OF AGRICULTURAL LAND The value of agricultural land is influenced by various factors, including: Location: The location of the land is a crucial factor that influences its value. Agricultural land located close to markets, highways, and other transportation networks will usually be more valuable due to the ease of access and transportation
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INCOME TAX SECTIONS RELATED TO PROPERTIES VALUATIONS IN INDIA There are several sections under the Income Tax Act that are related to property valuation in India. Here are some of the important & relevant ones: Section 22: This section deals with the computation of income from house property. It states that the annual value of
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SEVERAL INCOME TAX SECTIONS RELATED TO IMMOVABLE PROPERTIES IN INDIA There are several sections of the Income Tax Act, 1961 that are related to immovable properties. Some of the important sections are: Section 22 – Income from House Property: This section deals with the computation of income from house property. It includes any building or
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WHAT IS OWNERSHIP OF ASSETS & WHAT DOCUMENTS REQUIRED TO CLAIM OWNERSHIP OF ASSETS ? Ownership of assets refers to the legal right or title of an individual or entity to control, use, and dispose of a particular property or item. Assets can include tangible items such as real estate, vehicles, and personal property, as
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What is Honoris Causa Doctorate? (Ph.d / D.Litt / D.Sc / LLD) Honoris Causa Doctorate is an honour based on the experience, achievements and contributions of an individual towards the betterment of society, nation and mother earth. Honoris causa is a Latin term that means “for the sake of honor.” An honorary doctorate, also known
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EFFECT ON VALUATION DUE TO EASEMENT An easement is a legal right to use someone else’s property for a specific purpose. The creation of an easement can have an impact on the valuation of a property, depending on the type of easement and the nature of its use. In general, the creation of an easement
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CREATION OF EASEMENTS An easement can be created or acquired either by a owner or a person in possession on his behalf or by a co-owner, if any, for the beneficial enjoyment of the property. A lessee of a leasehold property cannot create or acquire an easement in or over the leased property for the
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