The rental or rental agreement is written on a stamp paper. There are 2 types of rentals in India, one is a lease that lasts at least 12 months. This is governed by the rent control laws enacted by the state government. The other type is a rental and licensing agreement of up to 11 months, which is not covered by rent control laws. In India, the deposit or advance is also paid by the tenant to the landlord who must be reimbursed at the time of termination of the contract. As a general rule, it is charged anywhere from 2 or 3 months to 10 months of rent. The security deposits are made at the time of signing the contract. ClearTax is used by 5 Mn Indians to submit their taxes. Please fill out this form, we will try to respond as soon as possible. Part of the deposit can be used by the landlord for damage caused by the tenant to furniture, appliances, electrical appliances or the property itself. After deducting the deposit of the amount of damages, the landlord must return the remainder of the deposit to the tenant at the time of the withdrawal of the contract.
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