Aadesh Mohite
Questions Asked
Taxes & Duties
#sell#worth#crore#capital#reduce
My father wants to sell one of his houses. He has two houses in his name. He bought this one for INR 40,000 in 1986 and now it is worth 2.25 crore. What would be the capital gains tax he would have to pay and is there any way to reduce it?
My father wants to sell one of his houses. He has two houses in his name. He bought this one for INR 40,000 in 1986 and now it is worth 2.25 crore. What would be the capital gains tax he would have to pay and is there any way to reduce it?
| 
Answered on November 08, 2017
To compute the amount of capital gain, you can refer to the provision of section 48 of the Income Tax Act. Based on the facts provided, as the property has been sold after a period of 24 months, the capital gains would be long term capital gains. Such capital gains would be computed as below:
Difference between Sale consideration (Rs. 2.25 crore) and the indexed purchase consideration (Rs. 40,...
(View more)
Regulations
#buying#flat
While buying a flat in an old building, is it possible to procure the sanctioned plans? If so, how do I go about it.
While buying a flat in an old building, is it possible to procure the sanctioned plans? If so, how do I go about it.
Answered on November 08, 2017
The Old approvals have been scanned and uploaded online in MCGM website , but incase it is not visible or available online , One can always apply under RTI to MCGM Building Proposal Department to get a Copy , also try Searching in Assessment Department and Water Department for Older Buildings as Recirds were not maintained as should have been.
RERA
#interest#maharera#payment#promoter#buyer
Will such interest payment by the promoter to the buyer be automatic or the buyer will have to approach MahaRERA?
Will such interest payment by the promoter to the buyer be automatic or the buyer will have to approach MahaRERA?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) The interest payment is in accordance with the model form of agreement and hence should be automatically paid. The buyer may have to file a complaint to MahaRERA if there is a grievance.
Architecture & Interiors
#tile
Is it possible to make a tile & grout countertop "flush" by adding a top layer of something clear?
Is it possible to make a tile & grout countertop "flush" by adding a top layer of something clear?
Answered on November 08, 2017
Yes, it is possible to add another layer over grouted tile counters. Although it may vary from original look and feel of the tiles.
Legal
#booked#flat#delayed#possession#builder
I have booked a flat in Andheri and the dealer has delayed the possession by 2 year, is there any legal step that I can take against the builder to get the possession?
I have booked a flat in Andheri and the dealer has delayed the possession by 2 year, is there any legal step that I can take against the builder to get the possession?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can file a suit for seeking possession of the flat or in the alternative approach the authority under RERA seeking compensation for delay in handing over possesion of the flat and also for possesion of the same.
Legal
#property#agricultural#land#rented#shop
We are a family of 6 brothers. Our total property comprises of 4 pieces of agricultural land. We have also rented 2 rooms and a shop. Kindly advice, at the time of distribution of the property among us should we also consider the rented property i.e. the 2 rooms and a shop?
We are a family of 6 brothers. Our total property comprises of 4 pieces of agricultural land. We have also rented 2 rooms and a shop. Kindly advice, at the time of distribution of the property among us should we also consider the rented property i.e. the 2 rooms and a shop?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
At the time of distribution of the properties, the rented properties can also be taken into account subject to the same being tenanted properties and not properties rented by way of leave and license agreement.
Legal
#transferred#grandson#property#implications#buying
A father transferred his will to his son and grandson. His son sold the property without letting know the grandson and signed the registry. The property was later sold four times. Can the grandson claim this property now? If yes, what are the implications in buying it?
A father transferred his will to his son and grandson. His son sold the property without letting know the grandson and signed the registry. The property was later sold four times. Can the grandson claim this property now? If yes, what are the implications in buying it?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The grandson can no longer claim any interet in the property if the subsequent purchasers of the property have acquired the same bonafide. The grandson however claims his share in the consideration amount recieved by the father on sale of the property. All this is subect to the Will in question having been duly probtated.
Legal
#property#transferred#single#ownership#divided
I want to know if I can split a property that was split between four people then transferred to a single ownership. This is a property that was owned by my father and then divided between us four brothers as a settlement deed, we built one floor for each brother and then through a way of settlement between the brothers I got the property to myself, now I want to split it between my wife and two adult children. Is this partition deed possible?
I want to know if I can split a property that was split between four people then transferred to a single ownership. This is a property that was owned by my father and then divided between us four brothers as a settlement deed, we built one floor for each brother and then through a way of settlement between the brothers I got the property to myself, now I want to split it between my wife and two adult children. Is this partition deed possible?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, you can partition the property as the same has already been transferred to your name fully.
Legal
#land
My father had a land of 40 bighas. He passed away recently. We are three sister,we have a brother and a mother. All the siblings are married. Now they are refusing to give us a share in the land. What do we do?
My father had a land of 40 bighas. He passed away recently. We are three sister,we have a brother and a mother. All the siblings are married. Now they are refusing to give us a share in the land. What do we do?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A suit for partition of the estate of your father can be filed in a Civil Court of competent jurisdiction and in such suit, you can also for your share in the estate of your late father.
Legal
#transfer#resale#society#charge#charges
Is it legal for a society to charge transfer charges on a re-sale transaction of a flat?
Is it legal for a society to charge transfer charges on a re-sale transaction of a flat?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Society can charge a sum of Rs.25,000/- for transfer of membership, beyond that the same is not permissible .
Connect with us
