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Lease Agreement

Others 634 views 1 replies

Are there any rules for lease term/ notice period?

Except those stated in the contract, what are the consequences if payment of the rent and services charges are not paid?

What are the tax requirements of the lessee? Please provide the list with deadlines of payments if any. What are the risks if taxes are not paid in due time or not paid at all?

 

What are the Health and Safety requirements? Evacuation drill obligation to be organised by Landlord or Lessee? Please specify the frequency (one a year, twice a year, every two years?). Is a risk assessment document with lessee and Tenant obligation available?

Replies (1)

No rules for notice period-generally 1-3 months depending upon contract.

 

Generally, if rent/service charges are not paid, landlord would adjust it against the security deposit that he would take from the lessee at the time of giving the place on lease.

 

Lessee may be required to deduct tax on the rent paid by him if the conditions are satisfied under section 194I of IT Act. If he does not deduct where he is required to, then he could become "an assessee in default" under section 201. Please refer to the two sections.

 

Sorry, no idea about the other two.


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