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Real Estate Act Comes Into Force. 10 Points On How It Will Protect Homebuyers

New rules under RERA or the Real Estate (Regulation and Development) Act to regulate the real estate sector, protect home buyers and ensure the timely execution of projects with an aim to boost investor confidence and stamp out illegal practices will apply from today. They are applicable to residential and commercial development and make it mandatory for all projects and brokers to be registered with the real estate regulator who will oversee transactions and settle disputes. Only seven states have, however, moved to implement the new rules as yet. RERA is a model law, which means the Centre can...

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9 lakh firms not filing tax returns being monitored, says revenue secretary

Hasmukh Adhia said that if companies do not file returns after getting registered with the MCA, then these are used as potential source of money laundering. About 900,000 registered companies do not file annual returns and are potential sources of money laundering, a top government official said on Saturday, as Finance Minister Arun Jaitley pitched for the country’s top anti-financial crime agency to be used “expeditiously” against tax cheats.Revenue secretary Hasmukh Adhia said the Prime Minister’s Office had set up a task force to monitor these companies and “there is no reason for us to let such companies operate...

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