Dhanuja, Sastra University
Sai Dharshini, Sastra University
ABSTRACT
A timeshare is a type of vacation property ownership. Partial ownership, a lease, or a "right to use" arrangement are all possible for units, meaning that the sharer has no legal claim to the property's ownership. In the 1960s, the idea of "timeshare" gained traction in Europe as a creative means of expanding vacation options. According to this idea, the hotel's use and operating expenses are split among the owners. Timeshares allow purchasers to purchase the right of occupancy in a property, typically in multiples of a week, for a predetermined period rather than having to reserve a resort every year for a week or two, or buying a property. After buying and utilising their vacation time, users might give it to friends and family members or rent it out. In this article we are going to see how the taxation made great impact in timeshare agreement, what are all are the tax consideration which is given for this agreement and mainly in this article we talk about time share agreement taxation is done in India and how the Indian taxation of time share agreement is different from other country.
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