Balaji (SSE) 02 October 2011

Help needed - property sale

Hi Experts

My Grandma recently transferred one of our old property(20years old) to my name. Its been almost a year since it got transferred under my name and now we are planning to sell this property. We will get close to 15L rupees for that property now and unkowingly i didnt included this property in the IT. However my grandma is paying water tax,property tax etc regularly. Now that im goin to get this money will there be any legal problems if i deposit this money in my account. Please let me know. I want to go by the rules to avoid any problems in the future.

Thanks

Regards

Balaji

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8 Replies

abhijit choudhary (self) 03 October 2011

my grandfather gave a land to four grandsons,the fifth grandson was not born. will the fifth grandson will get the share please help

abhijit choudhary (self) 03 October 2011

my elder brother sold a land which was my father's . what i have to do

Balaji (SSE) 03 October 2011

Abhijit please start a new thread....

Please can someone help me on my original post

Shailesh Kumar Shah (Advocate) 03 October 2011

What is the mode of transfer of property by your grandmother.

Balaji (SSE) 03 October 2011

Hi Shailesh

sorry i didnt understand. The property was transferred to my name legally thru stamp papers. Now we are planning to sell the old house.

Shailesh Kumar Shah (Advocate) 03 October 2011

WHAT AMOUNT WAS PAID ON SALE DEED. BY WHICH MODE- CASH OR CHEQUE?

Balaji (SSE) 03 October 2011

Hi Shailesh

It is my grandma's asset which got transferred to my name just like a gift. The sale to third party will happen this month end and they have told us that a draft(15L) will be given in favour of my name.