Property sale registration
Sir,
Query related against about property registration.
One of my close relative and friend as well, he wanted to sell his property, worth Rs.19lacs, since he is unemployed. Having too much family pressure and daughter's education, he had debt almost crossed 8 Lacs, he has been paying 12K for that exist borrowed money for more than 6 years.
Property worth Rs.19 lacs. He asked full cash but due to money restriction That party will accepted to pay 40% cash rest to transfer via fund transfer, now March is running. How about taxes will come for his name, he haven't paid any tax so far, because he don't have regular income, he is earning less than 10k.
IF you guide him, definitely his family will be grateful to you.
He don't have any investment, insurance, MF, savings, rental, deposit, jewels....Due to busz loss he lost all the hard earned money. Due to save his family and his children education he decided to sell that property.
Please help him, i m just going to share this reply as soon as i get
How to get the payments from that party? Will i ask to get two payment either March n April? If they paid entire 19 lac this mth, what would be the tax does he payable....? Thanks Sir.