Agreement
This query is : Resolved
08 April 2014
Can we draft a agreement for indefinite period which can be cancelled only by a notice of say xyz month....Whether the agreement shall be valid & acceptable in such case?
Nikhil Kaushik
(Expert)
09 April 2014
well there is nothing to suggest that you cannot have a indefinite period agreement...you can have the same and provide for the termination conditions therein.
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09 April 2014
Whether ur answer will differ if I say that the agreement shall be for a Commercial Tenancy?Plz Suggest
Nikhil Kaushik
(Expert)
09 April 2014
even in such a case the answer would remain same. However, tenancy of exceeding 12 years would amount to transfer under section 269ua(f)(i) of the Income-tax Act, 1961.
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Nikhil Kaushik
(Expert)
10 April 2014
You are welcome priyanka...
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