There are majorly two types of properties which we all know; movable and immovable property. In this answer, we will look at the meanings of both movable and immovable property and their examples. Let’s begin.
Difference between movable property and immovable propertyLet us first understand the meaning of both the property types:
- Movable property
As the name implies a movable property is a property which can be moved from one place to another. The nature of such property cannot be changed in terms of shape, size, quantity or quality.
- Immovable Property
Immovable property is a property which cannot be moved physically. The Indian Regulation Act states that property such as land, building, hereditary allowance, rights of way, ferries and fisheries or anything attached to earth permanently is an immovable property.
| Movable Property | Immovable Property |
A movable property must not be registered under Indian Registration Act 1908 |
An immovable property has to be registered under Indian Registration Act 1908 |
One needs pay sales tax and central sales tax |
One needs to pay property tax |
Examples: Books, table, jewellery, laptops, etc. |
Examples: Home, shops, land, pond, etc. |
Learn more about what is immovable property here
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Authors Of The Question
What is Movable and Immovable Property?
Suvrat
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3 Year
2021-07-23T12:33:33+00:00 2021-07-23T18:12:40+00:00Comment
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