I am in the process of purchasing a property in Kolkata.
I made a mistake in reporting the "Amount on which TDS to be deducted" to seller on my Form 26QB. Although I deposited the correct amount of TDS (i.e. 1% of the total paid) when paying the challan, and my 26QB is also showing the the correct amount but the entire amount was not consumed as I have entered less amount.
I submitted an...
Recently DDA announced the scheme to buy flats in Aug 2024.
I am a NRI (based in middle-east) and my wife is in India.
I want to apply for DDA flat in my wife name the primary reason being, I cannot come to India regularly to complete legal formalities like affidavit, stamping, registration or any other procedure required by DDA from time to time.
Now, my question is that my wife is a hou...
Context: We are in the process of buying a land from a developer. Primary applicant is my wife, me and my Dad (62 y/o) are co-applicants. We have paid the first installment (there will be total of three installments until possession of the land). I now need to pay the TDS on the first installment.
I understand that each buyer will have to file separate Form 26QB and in each buyer's Form 26QB, ...
I am Raghavendra from Bengaluru. I have purchased an under-construction Flat from a Developer in Bengaluru. RERA possession date is December 2027. I completed payment of 10% booking amount(first installment) on 22nd July 2023. Please find below details of 10% Booking amount payment for your reference:
a) 2 Lakh Rs token advance paid on 29th June 2023
b) 713179 Rs - remaining part of 10% boo...
Mr. A purchased residential property from builder in Noida, through regular BBA and allotment letter in July 2016.
Mr A sold the under construction property to Mr. B through builder transfer process i.e. the property got endorsed to Mr. B in Aug.2022 (meaning BBA and allotment letter got endorsed, but no change in allotment)
Mr. B sold the property to Mr. C in Jan.2024, through same endorseme...
I'm buying an under-construction flat above 50L.. So far I have paid 9% of Total flat cost to builder and 90% will be arranged through Home loan..
The builder is insisting I pay the 1% TDS on the TOTAL Flat cost which I have already paid in Form 26QB.. But there is a column in the form regarding "Amount already paid/credited currently" in which I have mentioned the 9% value paid in actual s...
I have understood that one must file Form 26QB for every combination of buyers and sellers. If there are two sellers and two buyers, four 26QB forms should be filed in all.
My query is that my son bought a flat in Feb 2021 (in joint name with both parents) and he is making all the installment payments and is also paying 1% TDS by filing Form 26QB. Parents don't make any contributions and hen...
Myself and my sibling hold a joint property in Bangalore in our names.
My sibling is currently not in India and may not be in India while selling our joint property hence has made a registered GPA (for sale) appointing me as a lawful attorney.
The GPA allows me to receive my sibling's 50% share of sale proceeds too, in my name.
We both wish to gift the entire sale proceeds immediately ...
I have decided to purchase a apartment worth 71,35,150 which is the amount in agreement cost. I received the below mail from builder and confused which option I should go with and whether either will have any legal implications when I try to sell the apartment later point in time.
"With regard to the minimum value and full value amount towards sale deed registration, the details are as follows...
We are NRI and sold our apartment which was more than Rs 2 cr. The deal was signed in End Nov’20 It was sold to a company which decided to take a Bank Loan. They deducted TDS with details as below :-
1. 1% under section 194
2. 22.92% under section 195
This was a mistake but they advised will rectify this issue with the IT department and will notify us so we donot face any issue when we will ...
I am planning to buy a property from an NRI seller. The consideration amount is INR 50,01,000/-. Seller bought property in 2013 and is selling it now. NRI seller does not intend to avail benefits of any lower TDS. The property will be registered in my wife's name (to save registration charges @ 1% of the consideration). My questions are: 1) What will be the TDS % rate applicable my payment? 2) ...
Dear Sirs / Madams,
A flat purchased in December 2017—in Kolkata by my father aged about 80. He is retired and bought the flat from his savings.
Sellers – the co-owners ‘Husband and wife ‘..who happen to live/work in Kuwait.
Flat purchased value – 23 lakhs , full payment made in cheque, and registration done in December’17.
During the negotiation and Registration we only knew that TD...
Dear Sir,
I had bought a house in Mumbai for 77 lacs & paid 1% tds of 77,0000 on traces in March 2015. However the reflection in assessment year 2015-16 shows the transaction in part A2 and I am seen as the seller of the property and seller is seen as buyer & hence I am not able to generate form 16B. The sellers CA was trying all these years to change the same with sellers AO. I was being told...
Dear Sir/Madam,
I have made a sale agreement to NRI (through Power of Attorney) on 15th Jan 2018. I paid Rs. 100000/- as token amount. The Sale agreement was valid for 60 days (i.e. till 16th March 2018). Based on above Sale Agreement I applied for Home Loan and Sellar applied for Lower TDS (under section 195/197). Now my home loan was approved on Feb 10th, 2018 but Seller got Lower TDS certi...
My friend's mom is a senior citizen and a homemaker. She is likely to sell her husband's ancestral property which is now in her name after her husband's death. However, she also have four children who also are co owners of the property located in her native place.
Now, suppose she sells the house property for x amount. 50% payment of the property goes to her and rest of the money will be red...
First purchaser from the Builder (Through Booking while on construction of the Building)had paid the stamp duty and got registered the property in year 1994
The second purchaser who was Constituted power of attorney of the first purchaser had bought the flat from him on executing sale of agreement. He has under paid the stamp duty and not registered. The deal happened in the year 1997
I b...
Hello Keerthiga
I bought a Flat through a resale before registration and construction in 2014 and I have now completed all my payments to the seller and also to the builder. Earlier, the seller had made milestone payments to the builder for which the builder has been deducting TDS and paying to the Govt and the same goes for me. So when the transfer was made to me, a tripartite agreement wa...
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 b...
Dear Sir/Madam,
Our family had long disputed property which has been settled out of court recently from which I received sum of Rs 28 Lakh .
When enquired about re-investing I realize that I can utilize these fund for buying property only until then I should park this sum in capital gain account in nationalized band and use it for buying properties in next two years or I should buy gove...
It may be kindly noted that the property holding tax pertain to holding no C.269 which has been massively excess billed to so many holds which is not at all any fairness in assessment to property holding Id C.269. As per the substantial verification and reconciliation into the revenue record at Rourkela Municipal Corporation office, the same may be verified that the adjacent holding 50 properti...