Budget 2013-14 Any immovable property received by an Individuals / HUFs ‘without consideration’, its stamp duty value is taxable in the hands of the buyer as income from other sources, barring few exceptions. It is now proposed that where any immovable property is received for a consideration which is less than its stamp duty value by Rupees … Continue reading Double taxation on transfer of immovable property for inadequate consideration?
THE STAMPS AND REGISTRATION DEPARTMENT HAS DETECTED TAX EVASION IN THE JOINT DEVELOPMENT AGREEMENTS EXECUTED BETWEEN THE LAND LORD AND THE DEVELOPERS AND BUILDERS AND HAS REOPENED THE FILES BY ISSUING NOTICES TO THE CONCERNED LANDLORDS AND THE BUILDERS/DEVELOPERS.IT IS FELT THAT THE DUTY LIABILITY ALONG WITH THE FINE WILL BE IN TUNE OF CRORES … Continue reading JOINT DEVELOPMENT AGREEMENTS EXECUTED FOR APARTMENTS AND LAYOUTS – UNDER REVISION – STAMPS AND REGISTRATION DEPARTMENT –
WHILE BUYING ANY PROPERTY FROM NON-RESIDENT-INDIANS, PERSONS OF INDIAN ORIGIN, GREEN CARD HOLDERS AND CITIZENS OF OTHER COUNTRIES, DO EXERCISE CAUTION. IF THE PROPERTY IS BEING SOLD THROUGH OR BY OR WITH THE PROPERTY FROM A GENERAL POWER OF ATTORNEY OR SPECIAL POWER OF ATTORNEY HOLDER, CONSULT THE BEST ADVOCATE, BEFORE ENTERING INTO ANY AGREEMENT … Continue reading BUYING A PROPERTY FROM NON RESIDENT INDIAN/PERSONS OF INDIAN ORIGIN/GREEN CARD HOLDERS/CITIZENS OF OTHER COUNTRIES