Sachchit Savani
Questions Asked
Taxes & Duties
#reduce#capital
Is it possible to reduce the tax burden on homes? What are the ways of calculating the capital gain tax?
Is it possible to reduce the tax burden on homes? What are the ways of calculating the capital gain tax?
| 
Answered on November 08, 2017
Tax burden can be reduced on capital gains arising on sale of residential property by claiming exemption under section 54 or 54EC or 54EE of the Income Tax Act by fulfilling the condition prescribed in the sections.
Exemption u/s. 54 of the Income Tax Act can be claimed by investing the capital gains in purchase of new residential flat.
Exemption of capital gains to the extent of Rs. 50... (View more)
Exemption u/s. 54 of the Income Tax Act can be claimed by investing the capital gains in purchase of new residential flat.
Exemption of capital gains to the extent of Rs. 50... (View more)
Redevelopment
#brokerage#builder#liable#charges#tenants
Is the builder liable to pay for the shifting and broker charges each time if the existing tenants have to shift more than once during the period of redevelopment?
Is the builder liable to pay for the shifting and broker charges each time if the existing tenants have to shift more than once during the period of redevelopment?
Answered on November 08, 2017
It is not mandatory to give shifting charges but normal practice is to give one time brokerage and shifting charge.
Society Matters
#flat#underconstruction#pune#paid#maintenance
I purchased a flat in an underconstruction project in Pune and have paid the maintenance for a year already. I have been living in this flat for 7 months, I want to know when my maintenance will start as this project is still underconstruction and might take a couple of years to get completed.
I purchased a flat in an underconstruction project in Pune and have paid the maintenance for a year already. I have been living in this flat for 7 months, I want to know when my maintenance will start as this project is still underconstruction and might take a couple of years to get completed.
Answered on November 08, 2017
Maintenance charges are collected to meet expenses required to maintain property of a Society, it starts from the day building receives Occupation Certficate from the authority or possession whichever, is earlier
RERA
#penalties#agent#maharera
What are the penalties that a Real Estate Agent would face if he fails to adhere to the mandates prescribed by MahaRERA?
What are the penalties that a Real Estate Agent would face if he fails to adhere to the mandates prescribed by MahaRERA?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) If any real estate agent fails to register and contravenes the provisions of section 9 or section 10 of the Act, he shall be liable to a penalty of ten thousand rupees for every day during which such default continues, which may cumulatively extend u...
(View more)
Dhvanil Vakharia,Design Engineer
12 Answered
Answered on November 08, 2017
While both Lacquer and Varnish are used for finishing wooden furnitures and artifacts, they have different applications due these basic differences:
Laquer is used for the Finish or Top Coat. Over time it begins to discolor and scratched. It is applied via a sprayer and in very thin layers compared to other finishes.
On the other hand, Varnish is used for Intense Glossy Finishes and is protecti...
(View more)
Legal
#advertisement#property#nomination#documents
Is it compulsory to give an advertisement for no objection regarding a property? This property was in my father's name, he passed away last year. And we have already done the nomination in my mother's name and submitted all documents. Is this advertisement necessary now?
Is it compulsory to give an advertisement for no objection regarding a property? This property was in my father's name, he passed away last year. And we have already done the nomination in my mother's name and submitted all documents. Is this advertisement necessary now?
This question has not been answered
Legal
#co-owner#sell#property
Is a co-owner of a real estate allowed to sell his share of the property?
Is a co-owner of a real estate allowed to sell his share of the property?
This question has not been answered
Legal
#property
I have been staying with my mother's parents for the past 5-6 years. My parents got divorced and have married other people. This happened about 10 years ago, I lived with my father for 5 years. Now my mother helps me out with some of the funds that I need for my education and personal needs, but my father doesn't. Do I have any rights in my father's property?
I have been staying with my mother's parents for the past 5-6 years. My parents got divorced and have married other people. This happened about 10 years ago, I lived with my father for 5 years. Now my mother helps me out with some of the funds that I need for my education and personal needs, but my father doesn't. Do I have any rights in my father's property?
This question has not been answered
Legal
#property
We are a family of four including me, my parents and my brother. My parents were living separately and now my dad passed away recently. I got married seven years ago . My mother has married someone else now. Now I want to know what rights do my mother, brother and I have on my father's property?
We are a family of four including me, my parents and my brother. My parents were living separately and now my dad passed away recently. I got married seven years ago . My mother has married someone else now. Now I want to know what rights do my mother, brother and I have on my father's property?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The property would devolve on the children of your father in view of your mother having remarried.
Legal
#commercial#property
I wanted to know that whether I can acquire a commercial property at the age of 17 years.
I wanted to know that whether I can acquire a commercial property at the age of 17 years.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can acquire such property only through your natural or legal guardian, as minors below age of 18 years are not competent to enter into a valid contract.
Legal
#nri#vacate#lease#process
I am an NRI and I wanted to know if I vacate my house which I had given on lease to an individual, the person has requested to extend the lease for more than once now. Also, is there is a fast track process for this in case of NRIs? Please let me know.
I am an NRI and I wanted to know if I vacate my house which I had given on lease to an individual, the person has requested to extend the lease for more than once now. Also, is there is a fast track process for this in case of NRIs? Please let me know.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Under the provisions of the Maharashtra Rent Control Act, 1999, a sepcial authority has been constituted to deal with the cases relating to disputes between a licensor and licensee in respect of residential properties with a mandate to decide such cases within a period of 6 months.
Legal
#nri#purchase#process#buying#property
What is the process of buying a property if you are an NRI?
What is the process of buying a property if you are an NRI?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The process for buying of properties by an NRI is same as that for resident Indians. The procedure for foreign nationals is differnet and requires permission of the RBI.
Connect with us
