A P Singh
11 December 2013 at 11:56
Dear Sirs,
Assesse's husband deposited Rs 7 Lac in cash in her savings bank account which was part of the sale consideration of urban land .How will this be treated in the hands of the assesse. Gift ? Transfer? Should this sum be shown in the books / balance sheet of assessee or her husband or both. No document of gift has been executed by the husband at the time of depositing the said cash amt. in the assessee's bank a/c. What are the minimum documentary requirements to be fulfilled.
Also guide as to what is the documentary requirement in case of cash gifts from non relatives eg small amts received in birthday of kids, marriage anniversary or otherwise
Please guide in detail
Thanks in advance
YAGNESH HASMUKH DAVE
10 December 2013 at 13:05
I HAVE BOOKED RESIDENTIAL FLAT IN 2012 FOR RS 15LAC WHILE UNDER COSNTRUCTION & NO AGREEMENT IS REGISTERED NOW THE MARKET VALUE OF THE FLAT IS RS 35LAC AS PER STAMPDUTY REGISTRATION SO THE AGREEMENT IF TO BE REGISTIRED NOW IN DEC 2013 THAN WHICH CONSIDERATION TO BE ADOPTED AND WHAT ARE TAX IMPLICATION IF REGISTERED FOR 15LAC ONLY PL EXPALIN BRIEFLY
A GOVIND
09 December 2013 at 00:11
Hello Sir,
My mother died one year back. I am a non resident settled in the US. I have 2 sisters who live in India.We three are the legal heirs of this house property. We are planning to sell the property. I would like to know what would be the tax implication if we want to sell the property. Please enlighten me. Will the sale of inherited house attract capital gain tax? Will section 194IA and section 195 apply in this case?
Thanks
Govind
murali
06 December 2013 at 23:22
sir my father in law died last year. he was alloted a plot from a housing society though he owns a house. now he made a will in printing on a white paper with two witnesses in which the said plot goes to all his 4daughters and a son. in that he mentioned that the last daughter shall get 40% as she taken care while his illness for five years and remaining equal to all 3 daughters and his son. he did not mention about his own house in the will. now how can we the last daughter get the share in the plot? is the will valid if not mentioned about his own house? then what about his own house in which now mother in law is living. his son saying that all the property plot and house goes to him only. is it true? pls clarify
SHIVALI SAXENA
03 December 2013 at 14:55
In case of purchase of a land by a construction firm is it possible to get the registry of the land in the name of firm and individual in joint name or partly by firm and partly by individual.. kindly refer section for the same.moreover what will be its tax implications
b.c.gupta
03 December 2013 at 10:05
I purchased a house from unitech in 97 and got it registered in my name along with names of my son and his wife.Things have changed.I want to obtain regular pension from a bank for me and my wife against house.If I get relinquishment deeds signed from them (they are NRI now and very well off currently in india for a week zero support for us from them),will that be enough to mortgage house to bank or fresh registration in my name be required and fresh stamp duty to be again paid.Detailed advice requested. B C GUPTA 9891389715
Member (Account Deleted)
27 October 2013 at 23:07
MR X HAS PURCHASED AN UNDERCONSTRUCTION PROPERTY FROM THE DEVELOPER 2 YEARS AGO FOR WHICH AGREEMENT WAS MADE BUT THE PROPERTY WAS NOT REGISTERED BECAUSE MR X HOLDED IT AS AN INVESTMENT. MR X WAS TO PAY TO THE DEVELOPER IN 10 INSTALLMENTS IN WHICH 8 ARE DUE AND PAYMENT HAS BEEN MADE FOR 8 INSTALLMENTS AND 2 INSTALLMENTS ARE NOT YET DUE. NOW MR X HAS ASSIGNED THE PROPERTY TO MR Y AND MR Y NEEDS TO PAY 70LACS TO MR X AND 10 LACS FOR 2 INSTALLMENTS WHICH ARE NOT YET DUE TO THE DEVELOPER i.e MR Y HAS BEEN SUBSTITUTED IN PLACE OF MR X IN THE AGREEMENT.MY QUESTION IS
1. WILL MR Y HAVE TO DEDUCT TDS ON AMOUNT PAID TO MR X i.e 70 LACS AS PER SECTION 194IA?
2. WILL MR Y HAVE TO DEDUCT TDS ON AMOUNT PAID TO DEVELOPER i.e 10 LACS AS PER SECTION 194IA?
panna lal nawalkha
27 October 2013 at 16:57
Like waiving of interest payment for advance tax/incometax to senior citizens,IS THERE ANY PROVISION OF WAIVING OF INTEREST FOR LATE PAYMENT(DUE ILLNESS OR OTHERWISE) TO SENIOR CITIZENS FOR RENTAL ACCRUALS FROM COMMERCIAL PROPERTY. SUSHILA .P.NAWALKHA
amit jain
16 September 2013 at 15:50
We are running a charitable society registered in Delhi under Society registration act since 1995. We have worked for various acitvity in Delhi for social cause. IT IS RUNNING ON DONATION AND MEMBERSHIP FEES ONLY. Now we want to run a charitable dispensary/hospital at Loni OR SOME OTHER Interior VILLAGE in UP to provide health service free of cost/at a nominal fees. Kindly advice:
1. Do we need to reregistered this society at National level a society or we can start our dispensary/hospital without any registeration at national levl.
2. Do we need to take approval from health department/ministry of UP for the same.
3. Do we need to follow some other formality for the same.
WITH WARM REGARDS AND THANKS
AMIT JAIN
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