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Manisha   24 November 2018

Purchasing immovable property

I'm a central govt employee, planning of buying immovable property, to be funded from mine nd my husband's savings. What are the legal implications which can arise nd what all I have to inform to my office?


Learning

 3 Replies

Shashi Dhara   24 November 2018

if take loan u have to inform to it for deduction from salary if not it is not necessary .u have to inform to ITdepartment is f Ur tax payer.

Kumar Doab (FIN)     24 November 2018

1st you should to get rules and understand from our own office.

Go thru service/conduct rules applicable to you/category of employees.

The concerned personnel in your office, seniors, colleagues can help you.

They may opine per rules transaction is to be say; with previous knowledge of prescribed/designated authority……………..or to be informed within one month………..or belated infor might be possible and may be accepted..

They may even advise you o set of prescribed forms to be submitted if any..in your case, looking into amounts involved etc etc .

 

e.g;

 

 

The Central Civil Services (Conduct) Rules, 1964

RULE 18. MOVABLE, IMMOVABLE AND VALUABLE PROPERTY:

 

Government of India Decisions

 

(1)        General instructions regarding submission of the return for immovable property-House-building is clearly a transaction in immovable property-‘prescribed’ authorities, who would exercise authority-returns to be treated as secret and kept along with character rolls.

 

Under sub-rule 3 of Rule 15 of the Central Civil Service (Conduct) Rules, 1955 (now Rule 18 of 1964 Rules)

 

(9) Clarification of the provisions in the CCS (Conduct) Rules, 1955 regarding transaction in movable and immovable properties –

Kumar Doab (FIN)     24 November 2018

Try yourself a few times and you can gain expertise in understanding, interpreting, applying rules, GOI decisions, precedences, judgments, etc  in your and even your colleagues cases whom you may want to help.


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