There is acute shortage of potable water in all the parts of Bangalore due to failed monsoon and continuous two years drought. The Underground water table has touched down the lowest ebb and the quality of the water pumped is toxic to highly pathogenic. Therefore, we request all the readers to enlighten the associations, friends… Read More
A News Report of real estate transaction in Bangalore Mirror on 13-07-2016 Woman entered into a deal to sell her property, but faced trouble when buyer refused to pay the ‘remainder’ The High Court of Karnataka has allowed a 75-year-old property owner to initiate a cheating case against the buyers of her property who allegedly… Read More
1% TDS IS LIABLE TO BE DEPOSITED FOR THE PROPERTIES VALUED ABOVE RS50 LAKHS, BEFORE THE REGISTRATION OR EXECUTION OF ABSOLUTE SALE DEED. TDS IS NOT PAYABLE AT THE TIME OF ENTERING INTO THE SALE AGREEMENT.
Obtaining TAN number for complying with the provisions; Issuance of TDS certificate to the seller; Filing of TDS return quarterly and mention PAN of the seller; Taxes needs to be deposited within the specified time limit with the Government; and May be scrutinized by the TDS officer The rate of 1% may increase to 20%… Read More
Tax Deduction at Source (TDS) on transfer of certain immovable properties (other than agricultural land) for value Exceeding Rs.50 Lakh effective from 01-06-2013 The Finance Act 2013 had provided that purchaser of an immovable property (other than agricultural land) worth over Rs 50 lakh is required to pay withholding tax at the rate of 1%… Read More
TDS – Sale of all Immovable property above sale consideration value of Rs50 lakhs and above is now subject to TDS !!! The Finance Minister in Finance Bill 2013 has proposed withholding tax at 1% to be deducted by every buyer from any sum payable to the resident seller if the sale consideration for transfer… Read More
First Home Buyer will get an additional benefit on Interest limit: There is an additional deduction available on interest repaid on a loan for a first time house purchase. The benefit has been increased by an additional Rs 1 lakh and this will be over and above the Rs 1.5 lakh limit already available,provided, if… Read More