How to save tax on money we got by selling a house ?

My father retired (62yrs) sold his property (14 yrs old apartment) this month. He has deposited all the money in the bank and opened an FD. To avoid taxes do we need to buy a house in the same financial year before Mar 2014? Please suggest.

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Can my father remove my name in property once its executed ?

Dear Sir, The said property / flat 1BHK  is situated at Ulhasnagar has been registered in my parents name Joint Owner or co-applicant. My mother expired in 2004 and after her my father, myself (son) and my married sister are there. Last year i requested for replacing my name with my mother’s name who is the […]

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Can someone help me understand the procedure of buying a flat ?

Hi, I’m buying a new (Under Construction) flat in Pune and would like to know what exactly procedure after paying initial booking amount. Around 50% construction completed and it will get complete in next year. I have paid initial few amount and rest will be through HOME LOAN. can you please share the detailed procedure […]

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2 sellers and 2 buyers in real estate – Form 26QB related ?

Would request for a clarification regarding form 26QB If the value of property is Rs 1 crore , and there are 2 sellers and 2 buyers, then in each of the 4 Forms 26QB to be generated, the amount to be filled under ‘Total Value of Consideration (Property Value) would be 1 crore or 25 […]

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Need Information on tax related issues while buying house in bangalore ?

Hi All, I am buying an apartment in bangalore.Mine is 1148 Sq Ft super built up area as i went through my cost breakup sheet i am getting some doubts in tax related issues.Can any one help me in clearing my confusion. For example: Super built up area: 1148(sq ft)*3750=4305000.00 Car parking=200000. Cost of Property:=4305000+200000=4505000.00 […]

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How to get our land back from my uncle ?

Dear Sir, We have a 6 acres of aqua culture land in bantumilli, near machilipatnam Andhra pradesh. Since from 1998 my uncle(my father’s brother) is using a land for fish/prawn culture. We are not getting any lease from him. He is TDP karyakarta, & having local MLA support. He is not allowing us to sale […]

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What is procedure for making flat on wife’s name after closing home loan ?

Dear Sir, I have recently closed my icici home loan (property in Ahmedabad) and would like to make the flat on my wife’s name. Presently it is in our joint names Please let me know how to go about the paperwork – 1. changes in existing flat agreement from joint names to wife’s? 2. changes in share certificate ? […]

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Builder is asking extra service tax – How to deal with it ?

Hi, Could someone please help me out with the query below? I bought a flat from a Builder earlier this year. The flat was booked on 10-Jun-2013 with a booking deposit of 1,00,000. The “Agreement of sale of semi-furnished flat” and “Agreement of completion” construction / sale agreements were signed on 10-Jun-2013 by providing the […]

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Is it required to invest full amount eligible for capital gains tax into a single investment ?

Is it required to invest full amount eligible for capital gains tax into a single investment (property) or splitting the investment amount into multiple properties is allowed?

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Are there any regulation that provide guidance on the type of payment a promoter can insist ?

One of the Major and reputed builder has indicated time linked payment instead of progress linked payment. The project schedule is almost 36 months. The promoter insist on PDC’s in addition to bank loan. Construction in progress. From buyer end the risk is very high. Can any one  let know is there any regulation that provide […]

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