Results for #entered
Taxes & Duties
#flat#allotted#purchase#consideration#paid
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
| 
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 residential flat is held by you for a period more than 24 months than the same will be long term else short term. Indexation needs...
(View more)
Legal
#bungalow#entered#agreement#developer#builder
I bought a twin duplex bungalow in Goa that is spread over 148 sq mts. the plot although is 340 sq mts. The bungalows share a common wall. I entered into an agreement of sale along with the developer. According to this the area of the house and the first floor, belong to me as a part of the demarcation by the builder. Do I need to take any precaution before the sale deed?
I bought a twin duplex bungalow in Goa that is spread over 148 sq mts. the plot although is 340 sq mts. The bungalows share a common wall. I entered into an agreement of sale along with the developer. According to this the area of the house and the first floor, belong to me as a part of the demarcation by the builder. Do I need to take any precaution before the sale deed?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You should have the plan of the bungalow made to measure upto scale and have the same annexed to your Sale Deed to avoid any ambiguity as regards the area of land and bungalow sold to you.
Purchase & Sales
#entered#property#buying#agreement#sell
I have entered into a property buying agreement. I want to know if the seller can sell it to some other buyer if I can't make the payment on time?
I have entered into a property buying agreement. I want to know if the seller can sell it to some other buyer if I can't make the payment on time?
Answered on November 08, 2017
This depends on the conditions in the agreeement. If the payment is not made in time, and there is a termination clause which states that agreement can be terminated due to delayed payment, seller can return your payment and sell it to some other buyer. However, it is very subjective and shall largely depend on the conditions in the agreement
