Mohammad Ali
14 January 2021 at 17:22
Dear Sir,
Recently I had bought a residential properpty in South Mumbai in under construction project, when government has reduced the stamp duty from 5% to 2% my developer has asked me to pay Stamp Duty + Registration Charges @ concessional rate, which I paid in the month of Dec2020. Now developer is saying he will execute & register the agreement by Mar/April 2021, I would like to know the consequences of the same. Also if he fails to execute & register the agreement by Mar/Apr 2021 what will happen to amount I already paid as Stamp Duty & Registration?
Anonymous
13 January 2021 at 00:31
Dear sir,
I have completed my 10th as a private candidate on the basis of my birth certificate that means I haven't attended any primary schooling... I have completed my pre University course, Graduation in Commerce and masters in commerce as well...
I have cleared my National Eligibility Test for assistant professor also...
Now I got an opportunity to serve as permanent faculty... Do I get any trouble while document verification since I haven't gone to school..?
abhijit majumder
11 January 2021 at 16:19
To
The respected & senior professional colleagues
My query is:
While drafting an agreement in Stamp paper(Rs.50/-) it was discovered that inadvertently there was a minor spelling mistake in name (ie the name AMITABHA was typed as AMITAVA).
Can we use a completely new stamp paper or correct the mistake by strike through the misspelt name and certify it by signing both the parties to the agreement. Otherwise we have to destroy a valid stamp paper which I think may not be very prudent.
Your opinion in this matter is highly solicited.
Regards
Abhijit Majumder
shyam lal
11 January 2021 at 12:21
Out of three brothers two elder brothers have made a JOINT WILL in favour of the youngest brother pertaining to un divided family property Query is what happens when one of the signatory of the WILL expires.does then the WILL HAVE ANY LEGAL BEARING
Anonymous
09 January 2021 at 11:48
My room in slum is before 1990 at 1st flr with legal documents such as lightbill,voting id, ration card ,aadharcard ,so builder is saying you are apatra they dont do the survey also so what is the procedure for being patra
Anonymous
06 January 2021 at 21:43
1. A customer avaialed two loan in a regional rural bank, charge created on agri land for first loan and limitation is expired for it.
2.. second loan secured by mortgage of agri land and within limitation
3. For both loan same property charge created and mortgaged.
4. Now the borrower deceased.
5. Borrower executed Mortgage including all legal hiers.
Whether bank can file mortgage suit against legal hiers including the first loan?
Anonymous
05 January 2021 at 22:58
Can 'Salami' or 'Pagdi' from a new tenant be taken in Bank draft / Bankers cheque; where the landlord is not transferring the right of ownership of the flat to the new tenant. The tenant would be taking the possession of the flat on low monthly rental basis. The jurisdiction is Kolkata.
Anonymous
02 January 2021 at 13:36
Sale of Vacant Land for funding the construction of apartments and Allotment of flat by beneficiary
Opinion sought regarding Capital Gain Tax and types of documents to be executed w.r.t. Income Tax, RERA & GST Act.
Facts / Background:
N purchased the property consisting of land and residential house in South Chennai measuring about 2600 sft in 1974 and 50 % share of the property was settled in favour of his wife L in 2015. N expired in 2019 leaving behind his wife L (77) and two sons K & P as legal heirs.
As the building is very old, L, K & P want to demolish the building and construct an apartment building with 3-4 flats. But they are not in a position to construct with own funds and are also not interested in a Joint Venture scheme of any builder due to variety of reasons.
R (73) – Brother of N has a vacant plot in West Chennai purchased in 1975. L and her two sons have approached R for funding the construction of the flats in their land with an offer to allot one flat with uds of land in return proportionate to the amount to be invested by R for the development & construction of flats.
It is assumed that - Since R will be utilizing the sale proceeds of the vacant land against the value of the flat to be allotted to him, there will be no capital gain tax for him. Similarly, since L and sons will be utilizing the sale proceeds of uds of land to R, by constructing flats for them, they also will be exempted from capital gain tax.
Now, with regard to execution of documents to complete the transactions one option is - L and sons have to execute a sale deed for the sale of uds of land to R and subsequently all the four have to enter into construction agreement with the builder for development & construction of flats to them.
Supposing if L and sons request for the money (sale value of R’s land)) to be paid directly to them in advance without involving the builder on the understanding that they will transfer one flat with uds for the value of investment after completion of the flats - will it be risky or alright to concede to the request.
What will be the implications of capital gain tax and the consequences if the flat is not completed by the builder as per the requirements?
Any other alternate and viable documentation to take care of Capital Gain Tax, Stamp Duty and other statutory requirement.
Anonymous
31 December 2020 at 20:22
My mother set the nominee for her bank account as my cousin. (her sisters son). she was misguided into doing so, he was present with her when opening the account.
Now mother has expired and bank says money will be given to nominee and the nominee has no intentions of passing over the money to us - Legal heirs.
I know Succession certificate can be procured and matter sorted out, but we all know it is a costly and more importantly takes 5-7 months
I have found RBI circulars where it clearly states Bank should not insist on Succession certificate if the all legal heirs are available.
Bank is harping on the same tune - We can only give to nominee or get Succession certificate. We have Legal heir certificate issued by Tehsil office and Death certificate
My question is - How to bypass nominee and get money without going through trouble of getting Succession certificate
Release of Assets of Deceased Customers to Legal Survivors/Claimants
DBOD. BC.No. 55 /09.07.007/2001-02
https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=545
Additional points for the above circular
DBOD.BC.No. 63 /09.07.007/2001-02
https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=569
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Bounced cheque
Received with thanks a sum of Rs.5,00,000/- (Five lakhs only) from Sri Simanta kumar Dash, aged about 40years S/o-Satynarayan Dash resident of Plot No-126, Road-2, Lane-4, Sri Jagannath Vihar, Baramunda towards friendly loan which I will return within 7 days from date of signing of this agreement and I am also giving a post dated cheque of ...... bank dated ......vide cheque number...... of Rs.5,00,000/-. I will face legal consequences if I fail to repay this above amount as per court of law.
W1
W2
Lonee name
Mob number
Adhaar copy attached
Please advise whether this agreement format is valid to recover loan amount n what is legal consequence if a cheque gets bounced.