Sadiva Jain
Questions Asked
Taxes & Duties
#flat#offer#taxable#taxes#sell
I bought a flat in Coimbatore for 11 lakhs in 2007.Now, I have an offer of Rs 21 lakhs for the flat. Is the difference amount taxable? If yes then what would be the taxes I would have to pay? I wouldn't be willing to sell it if the taxes are too high. Please advice me as soon as possible, thanks.
I bought a flat in Coimbatore for 11 lakhs in 2007.Now, I have an offer of Rs 21 lakhs for the flat. Is the difference amount taxable? If yes then what would be the taxes I would have to pay? I wouldn't be willing to sell it if the taxes are too high. Please advice me as soon as possible, thanks.
| 
Answered on November 08, 2017
Tax liability will arise on capital gains arising out of difference between sale consideration and purchase consideration. The said gains will be considered as long term capital gains or short term capital gains based on the period of holding of the property. If the property is held by you for a period more than 24 months than the same will be long term else short term. Assuming that the sale w...
(View more)
Answered on November 08, 2017
Home loans can be generally availed between 7.5%-9% depending on the amount and the tenure of the loan. It generally varies from bank to bank though. SBI has the lowest interest rates in the country
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
The Authority may, on receipt of a complaint or suo motu in this behalf or on the
recommendation of the competent authority, revoke the registration granted under section 5,
after being satisfied that—
(a) the promoter makes default in doing anything required by or under this Act or
the rules or the regulations made thereunder;
(b) the promoter violates any of the terms or conditions of th...
(View more)
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) Section 29 of the Act provides that complaints should be disposed off as expeditiously as possible but not later than sixty days from the date of filing the same. However, where it cannot be disposed of during the said period, the Real Estate Regulatory ...
(View more)
Legal
#document#property#registered
Is there a possibility to execute a document outside India for a property that is in India? Also, can this property then be registered in India?
Is there a possibility to execute a document outside India for a property that is in India? Also, can this property then be registered in India?
This question has not been answered
Legal
#property#huf#procedure
Is it possible for a coparcener to blend his self-acquired property along with the one attained in HUF? If so, what is the procedure for the same?
Is it possible for a coparcener to blend his self-acquired property along with the one attained in HUF? If so, what is the procedure for the same?
This question has not been answered
Legal
#flat#construction#payment#paid#builder
We are planning to buy a flat that is under construction. The seller has completed the payment till 80% of the value and the other 20% is to be paid by the builder whenever it is due. The seller is an NRI and he has already furnished the power or attorney for this project. My queries is that Can the builder claim the 20% as this flat is being transferred (the amount is not due yet)? Also, what would be the taxes to be considered as the owner is an NRI, will I also have to deduct TDS?
We are planning to buy a flat that is under construction. The seller has completed the payment till 80% of the value and the other 20% is to be paid by the builder whenever it is due. The seller is an NRI and he has already furnished the power or attorney for this project. My queries is that Can the builder claim the 20% as this flat is being transferred (the amount is not due yet)? Also, what would be the taxes to be considered as the owner is an NRI, will I also have to deduct TDS?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Since there is balance amount to be paid under the agreement with the Builder, the NOC from the Builder will be required for concluding the sale. However, the Builder cannot demand the balance 20% amount if it is not due, merely because the buyer desires to sell the flat.
Legal
#land#property
I have 5 cents of land and my brother has been using this to run his hollow brick business for the last 7 years. I recently got married and want to build my house on that property. Although, my brother is not willing to move out and let me have the property. I am a middle class person while my brother is rich and can use his resources. What can we do in this situation?
I have 5 cents of land and my brother has been using this to run his hollow brick business for the last 7 years. I recently got married and want to build my house on that property. Although, my brother is not willing to move out and let me have the property. I am a middle class person while my brother is rich and can use his resources. What can we do in this situation?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can file a suit before a civil court to recover possesion of the land.
Legal
#buying#flat#under-construction
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
Which is the wiser thing to do with an eye for investment; buying a ready flat or an under-construction flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Ready flat would be expensive compared to a underconstruction flat.
Legal
#loan#bangalore#agreement#construction#sell
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
My brother bought a house on loan in Bangalore and completed the loan tenure after which LIC returned the sale deed but did not return the original sale agreement and the construction agreement, we did not bother then. Now when we are willing to sell the flat the bank giving the loan to the buyer is asking for these documents, what do we do in this case? We tried contacting LIC but they said that they destroyed old documents.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You would have to give indemnities to the Buyer for the loss of the original documents and the Bank granting the loan to the Buyer would have to be satisfied with such indemnities and should also be satisfied that the loss of such documents does not affect your title to the house.
Legal
#property
My father in law has passed away, but my mother in law is still alive. My father in law has passed on the property to my husband. My question is, is this possible while the mother in law is still alive?
My father in law has passed away, but my mother in law is still alive. My father in law has passed on the property to my husband. My question is, is this possible while the mother in law is still alive?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the property is acquired by your Father in Law from his own self earned income, then he is free to transfer the same to your husband and there is no bar for him to do such thing and the factum of the mother in law being alive would make no difference.
Connect with us
