ABCDEFGHIJKLMN
07 November 2009 at 11:17
Hi Expert Panelists,
Sice I do not know under which category this query may be answered, I have raised the query to both the panelists (1)On Taxation Matter and (2) On property Law.
I have a question about LONG TERM CAPITAL GAIN TAX.
(1) I have purchased a residential flat in March’06
(2) I had a residential Plot only (without any accommodation built on it).I held it for more than 20 years. Recently I sold it in March ‘07. I am under impression that no LTCG is payable for immovable properties, like Shares and Stocks.
(3) I had a commercial Property held for more than 25/30 years.I sold it in March’08
The purchase cost of residential Flat purchased in March’06 is more than the total receipt of residential plot and commercial property.
In view of above do I have to pay any LTCGain? If yes at what rate?
Bhasker Parikh@gmail.com-Date 07/11/09
1120 hrs
Anonymous
07 November 2009 at 10:54
Is Leave and License agreement applicable in Uttar Pradesh, Ghaziabad to be precise?
What are different tenancy agrrement are in vogue at Ghaziabad and safe for Landlord?
Anonymous
07 November 2009 at 09:05
dear sir, i had taken a property in 1995 in cash for 95,000 from My Unlce, but failed to get transfered.Now i am ready to do the agreement,1. can a gift deed help me to get registered in my name and by paying the SD n Regstn fees, if so what is the format for the same as per gift deed.. any act.
the property is in Mumbai.
kindly help
thanks n regds
mahesh
Anonymous
07 November 2009 at 01:54
My mother has 1 elder brother. After her parents expired, her brother has made property papers and forged her signature to sell some properties and stake his claim on some. he also lives in our ancestral home in goa. we learnt about the forgery and sale of properties through some family friends in goa. what can my mother do to stop this blatant cheating ? Properties left behind by my mom's bachelor and spinster uncle and aunties have also been claimed by him.
Anonymous
07 November 2009 at 01:53
My mother has 1 elder brother. After her parents expired, her brother has made property papers and forged her signature to sell some properties and stake his claim on some. he also lives in our ancestral home in goa. we learnt about the forgery and sale of properties through some family friends in goa. what can my mother do to stop this blatant cheating ? Properties left behind by my mom's bachelor and spinster uncle and aunties have also been claimed by him.
Charan Chander J
06 November 2009 at 21:41
Dear Sir/Madam,
We are two children, I am the son, my mother has inherited a building from her mother by partition (ie this is my grandmother property). My mother has left a will (without my knowledge) with entire property to my sister, i have not got any share in the property. Since the property is anscestral
1.Has my mother got the right to make a will? 2.On what grounds can i apply for a suite in the court,is there any special provision on ladies property(since it is not a self earned property)
Regards,
Charan
Anonymous
06 November 2009 at 20:35
Sir ,
I would like to know my right in the property,this question is continuation for the query"ancestral property" placed by me yesterday.I am giving all the details i am aware at present.The property is located in andrapradesh.We are hindus.
My grand father was the only son and had 3 sisters.They all lived as a joint family till my father got married..My grand father inherited some property from his father and being a very hardworking man he earned most of the property, I am not able to tell you exactly how much he had earned because he died long ago when my father and his sisters and brothers were minors.
My grand father had totally 150 acres agricultural land.
He died due to ulcer in stomach ,he did not divide the property to his children before death.My father was the eldest son followed by two younger brothers and three sisters,all of them were minor children at the time of my grandfathers death.
Later all of them were married and the property was divided among the three sons onlyi.e,each received 50 acres each when we were very small kids.
My grandmother was not given any property.
My father was a cruel man ,he had certain bad habits as well ,he did not allow my grandmother to stay in the house even though it was earned by her and her husband ,her second son gave her all the expenses and she lived in her daughter's house till she died.
I was married in 1978 when I was 14 year old to my mother's cousin brother who was 40 year old sadist.I went through terrible torture about which most of the relatives are aware of, but my parents or brothers never even cared about or showed any concern about my well being.They use very vulgar language when I ask for property share ,so i have no choice except to go to court.
We are 6 children to my father ,I have 3 brothers and 2 sisters,all of us are married.
My father had never earned any property in his lifetime and he died in 1997 due to heart problem.He did not divide the property before his death.My mother is alive.
My question is that since the property is ancestral do I have equal right in the property or how much share can I claim .If I get my share of the property can I sell it immediately because I want to donate the amount to the school in that village so that it may be possible for the children there to get educated and live happily unlike me. Waiting eagerly for your valuble advice.
Anonymous
06 November 2009 at 17:35
Hi,
I am the only son for my parents. I have 2 sisters who got married in 1997 & 1999.
My Father died on Oct'98 and my mother is living with my elder sister at my native place. My younger sister is living in gulf.
My father purchased a piece of land (Residential Plot)at Sriperumbadur in 1990 and ther property is registered in favour of my Mother and Late Father (Jointly). This property has been acquired by Govt recently.
Please let me know how the sale proceeds to be divided among us (considering my father's and mother's share separately)
surender garg
06 November 2009 at 15:41
i want to know the maximum validity period in case of General power of Attorney (GPA)& also in case of Special power of Attorney (SPA)
Regards,
Surender Garg
hsr.surendergarg@jslhsr.com
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Long Term Capital Gain
I have a top floor flat with rights of terrace since last 20 years.Last year, I bought TDR & built additional floor & sold it this year for more than 5 times my cost of TDR & construction.
Please tell me my tax implication?Will it be short term or long term gain?