Sabri Mohite
Questions Asked
Taxes & Duties
#flat#mhada#mumbai#possession#expected
My wife won a flat in a lottery by MHADA in Mumbai. This was in 05/2012. The possession is expected to be given to us soon, 95% of the payment is done. My questions is that will the TDS @1% be applicable after the final payment or otherwise?
My wife won a flat in a lottery by MHADA in Mumbai. This was in 05/2012. The possession is expected to be given to us soon, 95% of the payment is done. My questions is that will the TDS @1% be applicable after the final payment or otherwise?
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Answered on November 08, 2017
As per section 194IA of Income Tax Act, the transferee is required to deduct TDS @ 1% at the time of credit of sum to the account of the transferor or at the time of payment of such sum if the total consideration is 50 lakhs or above. The said section was introduced w.e.f 1st June, 2013. Accordingly any payment made by you on or after 1st June, 2013 and if your purchase consideration is more th...
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Answered on November 08, 2017
CRZ is classified in to CRZ-I, CRZ-II, CRZ-III, CRZ -IV and CRZ-V. In CRZ-II Construction is Permitted as per Regulations Prevailing on 19/2/1991 when the First CRZ Notification was Notified. Also Permitted in CRZ-III, IV and V as per Recent CRZ Notification dated 6jan 2011
Answered on November 08, 2017
Yes, if the plot on which the building is situated is falling under CRZ then the development can take place with the floor space index (FSI) of the plot as TDR and fugible compensatory FSI are not permitted to be utilised in CRZ.
Purchase & Sales
#builder#flat#registration
How can I be sure whether the builder has sold the flat to someone else without registration or not?
How can I be sure whether the builder has sold the flat to someone else without registration or not?
Answered on November 08, 2017
One can give public notice in the news paper if it is not registered, although it is not a full proof way to find out. But if the builder has sold the flat which is not registered then it may not stand chance in court of law if the matter goes to the court. Only registered flats can be traced by way of search in the office of the sub registrar or by accessing it's portal online.
RERA
#builder#flat
How does one ensure that the builder does not use the funds from flat sales in one project to fund another one of his projects?
How does one ensure that the builder does not use the funds from flat sales in one project to fund another one of his projects?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
RERA now makes it mandatory for a developer/promoter to deposit 70% of the sale proceeds in a separate account from which he can withdraw as per progress of work. This will prevent the developer from diverting any funds elsewhere.
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) As per section 2(d) an allottee includes a person who acquires the said ‘apartment / plot’ through transfer or sale, but does not include a person to whom such plot, apartment is given on rent. The Act doesn’t include rental projects, lease / leave and License deals.
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RERA
#ads#registration#advertisement#registering
Can advertisement be issued for a new project after 1st May, 2017 without registering the said project?
Can advertisement be issued for a new project after 1st May, 2017 without registering the said project?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) No. The advertisement issued after 1st May 2017 must carry the MahaRERA Registration Number of the project.
Architecture & Interiors
#bedroom
If I have a 500 sq. ft. living room and a 150 sq. ft. bedroom, how much AC tonnage do I need for each room?
If I have a 500 sq. ft. living room and a 150 sq. ft. bedroom, how much AC tonnage do I need for each room?
Answered on November 08, 2017
Air condition tonnage theoretically depends upon the orientation and sunlight penetration of the room. However, for a Livingroom of 500 soft and Bedroom of 150 soft you may consider about 3.0 tons and 1.0 ton respectively. The cooling comfort also depends upon the efficiency of the air conditioner.
Architecture & Interiors
If I want to ensure that my room is well lit, what is the ideal ratio of watt/lumens per square footage?
If I want to ensure that my room is well lit, what is the ideal ratio of watt/lumens per square footage?
Answered on November 08, 2017
Generally it is 200/250 lux level for residential premises which can go up to 350/500 lux level for offices and so on...
Legal
#aunt#nri#process#poa#sell
Hi, we have a house which is joint-owned by my mother and my aunt who is a NRI. I wanted to know the process where my aunt can give POA to my mother, so that my mother can sell it.
Hi, we have a house which is joint-owned by my mother and my aunt who is a NRI. I wanted to know the process where my aunt can give POA to my mother, so that my mother can sell it.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Your aunt can execute a power of attorney before the Indian Embasy in the country where she resides and thereafter forward such power of attorney to your mother and who in turn can then have such POA adjudicated and pay stamp duty thereon and further have the same notarise before a notary public.
Legal
#constructed#flat#july#possession#applicable
Dear Sir, I had bought a 90% constructed flat in Thane in July, 2010 and I got its possession in October, 2010. I would like to know the service tax applicable to my flat.
Dear Sir, I had bought a 90% constructed flat in Thane in July, 2010 and I got its possession in October, 2010. I would like to know the service tax applicable to my flat.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Service Tax would be 1% of the Agreement value and particularly since the building / flat was not fully constructed as on July 2010.
Legal
#huf#commercial#taxes#transfer#property
I recently formed an HUF with my wife and 2 children. I have a commercial office, out of which I get a healthy income and I also pay the taxes on that income. But now as I have formed an HUF I cannot create any funds above 50,000 per annum. I want to transfer this property with the rights of being a karta of my HUF, how can I go about this?
I recently formed an HUF with my wife and 2 children. I have a commercial office, out of which I get a healthy income and I also pay the taxes on that income. But now as I have formed an HUF I cannot create any funds above 50,000 per annum. I want to transfer this property with the rights of being a karta of my HUF, how can I go about this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can transfer the property from your name to the name of the HUF by executing a transfer deed to that effect.
Legal
#agricultural#property#inherited#documents
The route that goes towards the agricultural property that my mother inherited by her parents has been blocked by my grandfather's cousin by building a wall on the route. We have been using the same route to enter our field for over 100 years now. Please suggest what we can possibly do as we do not have proper documents for the same.
The route that goes towards the agricultural property that my mother inherited by her parents has been blocked by my grandfather's cousin by building a wall on the route. We have been using the same route to enter our field for over 100 years now. Please suggest what we can possibly do as we do not have proper documents for the same.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can file a suit for claiming right of way to your property and also claim easamentary rights qua the right of way. You would have to say that we having been using the right of way all along.
Legal
#property
What is the legal format to bequeath the property to my children through a will, what would be the correct wordings?
What is the legal format to bequeath the property to my children through a will, what would be the correct wordings?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A will can be executed in any form, however the intention of the testator should be clear and it would help, if the same is attested by some witnesses.
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