Results for #government
Legal
#government#property#worth
I am facing some issues with regards to the guideline values by the government. I had lent 10 lks to a friend, but he couldn't repay it to me so he give me a property which was worth 12 lakhs. The property is 30 lks according to the government guidelines so I am having to pay tax for the difference. Is there a solution to this?
I am facing some issues with regards to the guideline values by the government. I had lent 10 lks to a friend, but he couldn't repay it to me so he give me a property which was worth 12 lakhs. The property is 30 lks according to the government guidelines so I am having to pay tax for the difference. Is there a solution to this?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No, under the relavent Income tax and Stamp act provisions, stamp duty and income tax is assessed based on the market value of the property. However if the genuine market value is infact Rs.12 Lakhs, then you would have to file appeals challenging the assessment of the property at Rs.30Lakhs before the Stamp authorities first and if the transaction is infact concluded, also before the Income ta...
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Legal
#government#payment#delayed#certificate#selling
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
305 people including me bought flats from the government scheme and did a full payment. Now this has been delayed for 12 years on flimsy demand of the third party certificate of no addition or alteration. But the RWA president is refusing to give us a selling deed saying that it is purely a matter between the seller and the buyer. For how long can CGEWHO delay this conveyance deed? Also, can the deed be delayed on such pretext?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If, the flats are sold on ownerhsip basis, then the conveyance cannot be delayed at all and in fact under the provisions of the real estate and regulation act, the conveyance has to be effected immediately once more than 50% of the total units in the building has been sold and such purchasers have made the full payment of the consdieration amount.
Legal
#property#compensation#government#valid
My great grandfather got a property as compensation from the indian government, back in 1956 as he moved from Pakistan. We have the old legal papers to that property with us. My great grandfather never lived in that house. Now, someone else lives there. What do we do about this situation? Are the old papers still valid?
My great grandfather got a property as compensation from the indian government, back in 1956 as he moved from Pakistan. We have the old legal papers to that property with us. My great grandfather never lived in that house. Now, someone else lives there. What do we do about this situation? Are the old papers still valid?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Your claim to the proeprty would be barred by Limitation if you were aware of the existence of the property documents all along and as such, the documents to the property will be of no help.
Legal
#government#letter#beneficiary#document
Are there provisions for a written statement, given in front of witnesses, being considered as a will by the government? My father with 2 witnesses wrote such kind of a letter mentioning my brother as the sole beneficiary of his will. Can this document be considered a will in the court? Note that there was also one medical practitioner present, at the time when this letter was written, to certify the well being of my father's health.
Are there provisions for a written statement, given in front of witnesses, being considered as a will by the government? My father with 2 witnesses wrote such kind of a letter mentioning my brother as the sole beneficiary of his will. Can this document be considered a will in the court? Note that there was also one medical practitioner present, at the time when this letter was written, to certify the well being of my father's health.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A will can be in any form and the letter executed by your father will have to be proved in a court of competent jursdiction whilst seeking Probate of the same.
Legal
#property#flat#aware#vat#maharashtra
I bought a property in Badlapur west. The built up area of this flat is 1495 gqft. I am not aware of the recent developments in the service tax and VAT imposed by the Maharashtra state government. Can you advise me about what the amount of the stamp duty and registration would de?
I bought a property in Badlapur west. The built up area of this flat is 1495 gqft. I am not aware of the recent developments in the service tax and VAT imposed by the Maharashtra state government. Can you advise me about what the amount of the stamp duty and registration would de?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The Service Tax amount and VAT would depend on the market value of the flat/ agreement value and similarly the stamp duty would also depend on the ready reckoner value of the flat at the time of such purchase or the agreement value whichever is higher. Registration Fees is 1% of market value of flat or Rs.30,000/- whichever is lower.
Legal
#property#registered#government#owners#transfer
My father passed away recently, he left behind a will on the property that he had earned throughout his life. This will although was not registered with the government. He made me and my mother the joint owners of one of his properties. What are the steps that we will have to take to transfer these property documents?
My father passed away recently, he left behind a will on the property that he had earned throughout his life. This will although was not registered with the government. He made me and my mother the joint owners of one of his properties. What are the steps that we will have to take to transfer these property documents?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The Will is not requried to be registered however, unless the Will is probated bequest under the Will cannot given effect to. However, if you and your mother are the only legal heirs of your father, then you could appy for letters of admnistration and thereafter seek transfer of the property to your and your mother's name.
