Sadhna Rajput
Questions Asked
Taxes & Duties
#occupy#loans#rent#loan
I own three flats, one of which I occupy myself. The other two are empty. All three have been bought with home loans which are still being repaid. Can I give out the other two flats on rent, and still claim tax benefits on the home loan interest payments?
I own three flats, one of which I occupy myself. The other two are empty. All three have been bought with home loans which are still being repaid. Can I give out the other two flats on rent, and still claim tax benefits on the home loan interest payments?
| 
Answered on November 08, 2017
Yes, you can give the two flats on rent and claim deduction in respect of interest paid in respect of the home loans on the two flats in your return of income.
Taxes & Duties
#flat#save#taxes#consideration#loan
I had one flat which I sold and to save taxes, I purchased another flat partially from the sales consideration received and partially by taking loan. Now, if I sell this flat within period of 3 years of purchase then on what amount am I liable to pay taxes?
I had one flat which I sold and to save taxes, I purchased another flat partially from the sales consideration received and partially by taking loan. Now, if I sell this flat within period of 3 years of purchase then on what amount am I liable to pay taxes?
Answered on November 08, 2017
In order to save tax on capital gains arising out of sale of residential flat, expemtion can be claimed under section 54 of Income Tax Act i.e selling of one residential property and buying another residential property within the time limit specified under section 54 of the Income Tax Act. The new residential property so purchased should be held by you for subsequent period of 3 years. In case ...
(View more)
Answered on November 08, 2017
Yes Only after Converting or Taking Conversion Permission to Permit Residential Users in Industrial Zone by Leaving Required Seggregating Distances as per Regulations and providing amenity as per Policy. Most Importantly the Labour Commissioners NOC is Mandatory for such aplciation as Labour Dues hav to be settled first and foremost.
Redevelopment
#permitted#redevelop#society#oc
Are we permitted to redevelop a society without a proper OC?
Are we permitted to redevelop a society without a proper OC?
Answered on November 08, 2017
There is nothing like proper OC (Occupation certificate), building is either with OC or without it. If the building is without OC then fungible Compensatory FSI available on rehabilitation component shall not be granted without charging premium.
Purchase & Sales
#buying#flat#under-construction
Is there a check list of precautions and documentation to be considered for buying a flat, be it an under-construction one or a ready one?
Is there a check list of precautions and documentation to be considered for buying a flat, be it an under-construction one or a ready one?
Answered on November 08, 2017
After introduction of Maharashtra Real Estate regulation Act, 2016, it is mandatory for the developer to register new and ongoing project withReal Estate regulatory Authority (RERA) after obtaining approvals from the local authority. All details such as nature of the proposed building, title of the property, completion time of the project, draft of Agreement for sale etc. are uploaded on RERA w...
(View more)
Architecture & Interiors
#color#advice
I need a media console, for my living room. Would like some pop of color to the room. Please advice?
I need a media console, for my living room. Would like some pop of color to the room. Please advice?
This question has not been answered
Legal
#co-owner#property#process
What can be done to make my spouse the co-owner of the property? What is the process?
What can be done to make my spouse the co-owner of the property? What is the process?
This question has not been answered
Legal
#poa#property#mumbai
Can someone from another state be given a POA? I stay in Andhra Pradesh and my property and my mother who I want to give the POA to are both in Mumbai.
Can someone from another state be given a POA? I stay in Andhra Pradesh and my property and my mother who I want to give the POA to are both in Mumbai.
This question has not been answered
Legal
#owner#property#divided
In this scenario, the owner of the property was married twice, out of which the first wife and her 2 sons took their share of the property when the owner was alive. Now the owner has passed away without a will, how will the property be divided among the wives of the second wife's sons, if all her sons are dead as well?
In this scenario, the owner of the property was married twice, out of which the first wife and her 2 sons took their share of the property when the owner was alive. Now the owner has passed away without a will, how will the property be divided among the wives of the second wife's sons, if all her sons are dead as well?
This question has not been answered
Legal
#heir#property
Can an heir to a property donate his/her share to another heir to the property?
Can an heir to a property donate his/her share to another heir to the property?
This question has not been answered
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Depends on the terms of the Franchise Agreement. Usually, the same is done by giving written notice to the other side.
Legal
#payment#options#mortgage
I want information on what are the payment options provided by lending institutions under reverse mortgage schemes?
I want information on what are the payment options provided by lending institutions under reverse mortgage schemes?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague.
Legal
#flat#mumbai#terrace#reside#society
A few years back I had purchased a 1BHK flat in Mumbai which included a 520sq.ft terrace area. I currently reside in Saudi Arabia. While I was away, the residents of my society have built a tower because of which I only have 225 sq.ft of terrace area left for myself and the rest is occupied by the tower. As of now the society is not completely formed. Since my agreement mentions the 520 sp ft area of the terrace as my property what kind of legal action should I take against the society ?
A few years back I had purchased a 1BHK flat in Mumbai which included a 520sq.ft terrace area. I currently reside in Saudi Arabia. While I was away, the residents of my society have built a tower because of which I only have 225 sq.ft of terrace area left for myself and the rest is occupied by the tower. As of now the society is not completely formed. Since my agreement mentions the 520 sp ft area of the terrace as my property what kind of legal action should I take against the society ?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the terrace area is not a common terrace and has no entrance except from within the flat, then the society will not be entitled to put up any tower on the terrace area. You can file a suit against the society for restraining them from tresspassing into your property and also for removal of the tower.
Legal
#nominees#flat#society#nomination#divided
My mother had nominated three of us brother and my late elder brother's wife as the nominees for her flat. The society has denied that there has been any such nomination in any of our names. The flat was divided equally between the four of us, 25% each and they aren't willing to transfer it in our name. We now want to share it between 8 people including us and our children as we wish to sell the flat.
My mother had nominated three of us brother and my late elder brother's wife as the nominees for her flat. The society has denied that there has been any such nomination in any of our names. The flat was divided equally between the four of us, 25% each and they aren't willing to transfer it in our name. We now want to share it between 8 people including us and our children as we wish to sell the flat.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Nomination does not bestow title and as such the title to the property will be governed by the relevant laws of succession depending upon your religion. However, all legal heirs can together execute a family arrangement interse deciding to share the proceeds from the sale of the flat in such manner as they may deem fit.
Legal
#construction#builder#money#loan#suggestions
I want to invest in an under construction project, but I am uncertain about this as I do not know what to do if the builder stops the construction mid way. It is a 3 year project and I wish to invest my own money without any loan. Any suggestions on how I can protect my money once I have paid 30-50% of the amount.
I want to invest in an under construction project, but I am uncertain about this as I do not know what to do if the builder stops the construction mid way. It is a 3 year project and I wish to invest my own money without any loan. Any suggestions on how I can protect my money once I have paid 30-50% of the amount.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can investigate the title of the developer and also ascertain his reputation vis-a-vis his past constructions. Further under provisions of the RERA the builder would now be required to put up all such details on the RERA Website. The provisions of RERA now protect flat buyers in under construction buildings to a large extent.
Legal
#purchase#attorney#alternate
I wish to purchase a house in India, I am of indian nationality, but live in Tanzania. Can my mother purchase it in my name through power of attorney, as I won’t be able to be physically present for a long time. Are there any alternate ways of doing this?
I wish to purchase a house in India, I am of indian nationality, but live in Tanzania. Can my mother purchase it in my name through power of attorney, as I won’t be able to be physically present for a long time. Are there any alternate ways of doing this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, you can give a POA to your mother to conclude the sale on your behalf. The POA can be executed by you before the Indian Embassy in Tanzania or closest to you and the same can then be forwarded to India for adjudication and payment of stamp duty and thereupon your mother can utilise the same for concluding the sale.
Connect with us
