Sabrang Shah
Questions Asked
Taxes & Duties
#flat#mumbai#builder#cost#construction
I had bought a flat in Mumbai for which the builder is asking for service tax on the cost of construction. I wanted to know if this service tax is applicable on us and if yes, what is the % of amount that we will have to pay?
I had bought a flat in Mumbai for which the builder is asking for service tax on the cost of construction. I wanted to know if this service tax is applicable on us and if yes, what is the % of amount that we will have to pay?
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Answered on November 08, 2017
Yes, Service Tax is applicable on the service portion in the execution of works contract. Currently, the abated rate of service tax on contract value is 4.5%
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
(a) where the area of land proposed to be developed does not exceed five hundred
square meters or the number of apartments proposed to be developed does not exceed
eight inclusive of all phases:
Provided that, if the appropriate Government considers it necessary, it may,
reduce the threshold below five hundred square meters or eight apartments, as the
case may be, inclusive of all phases, ...
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RERA
Does the definition of ‘promoter’ include public bodies such as Development Authorities and Housing Boards?
Does the definition of ‘promoter’ include public bodies such as Development Authorities and Housing Boards?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) The Act covers all bodies (private and public) which develop real estate projects for sale to the general public. Section 2(zk) defines the term ‘promoter’ which includes both private and public real estate promoters. Thus, both Development Authorities and the Housing ...
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Answered on November 08, 2017
Formica is the name of the manufacturer who pioneered and popularised artificial laminate sheets. (like Dunlop is commonly used for foam rubber) Yes, there're inherent differences. Veneer is produced out of natural timber, therefore may not be water resistant as much as laminates., while laminated sheets are mechanically produced using paper as medium for its top surface for variety of colours,...
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Legal
#property
We are twin brothers. My mother passed away recently so my dad has decided to give all his property to my brother. He has also threatened to give me only a 20% share in the property. What can I do to get my equal share in this property? My dad hasn't made any decision as of now.
We are twin brothers. My mother passed away recently so my dad has decided to give all his property to my brother. He has also threatened to give me only a 20% share in the property. What can I do to get my equal share in this property? My dad hasn't made any decision as of now.
This question has not been answered
Legal
#land#divided#ownership#transferred
We are 5 siblings - 2 brothers and 3 sisters, out of which 2 sisters have passed away. The younger brother has sold a piece of land without the older brother's consent. The older brother got a stay on the sale from the court. The brother and younger brother want to settle with the older brother, but want that the proceeds from the sale be divided between the 5 siblings. My question is, in the case of the 2 sisters who have passed away, can the ownership of the land be transferred to the children of the sisters?
We are 5 siblings - 2 brothers and 3 sisters, out of which 2 sisters have passed away. The younger brother has sold a piece of land without the older brother's consent. The older brother got a stay on the sale from the court. The brother and younger brother want to settle with the older brother, but want that the proceeds from the sale be divided between the 5 siblings. My question is, in the case of the 2 sisters who have passed away, can the ownership of the land be transferred to the children of the sisters?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, of the two deceased sisters had a share in the property, then their heirs would also be entitled to their share therein.
Legal
#ancestral#property#flat#salary#transferred
My wife and I do not have any ancestral property, we just have one flat that was bought from our salary income. We are senior citizens now and want this flat to be transferred to our daughter's anem. We have also financially supported our two sons in buying their flats. Now do we need to execute an explicit concurrence with our sons or can we directly transfer this property to our daughter's name?
My wife and I do not have any ancestral property, we just have one flat that was bought from our salary income. We are senior citizens now and want this flat to be transferred to our daughter's anem. We have also financially supported our two sons in buying their flats. Now do we need to execute an explicit concurrence with our sons or can we directly transfer this property to our daughter's name?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You could gift the Flat to your daughter, if your two sons agree and can join them as confirming parties in such gift deed. However, if they object for such gifting of the flat in view of their having paid monies to you for acquiring the flat, then it will depend on whether such monies were given as loan or whether the same were paid to the seller at the time of acquiring such flat.
Legal
#loan#implications#possession
I have purchased a home in my wife's name and home loan on my name. I am planning for a second home in my name. May I know the tax implications on the second home. Also will I benefited if date of possession will be after two years from now?
I have purchased a home in my wife's name and home loan on my name. I am planning for a second home in my name. May I know the tax implications on the second home. Also will I benefited if date of possession will be after two years from now?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Deductions qua interest are limited, if your payment towards interest is more than the stipulated limited permitted under the IT rules, then that much amount will be disallowed whilst computing your income and further, you will be charged notional rent as income from the second flat (on and from receipt of possession of the second flat), even if the same is not rented out then.
Legal
#flat#bangalore#owner#attorney#relatives
Hi, I am planning to buy a flat in Bangalore but the owner of this flat is in US and he has given the Power of Attorney to his relatives. I wanted to know how safe is it to buy a flat in this scenario since the POA of this flat was made in New York's Indian Embassy. Does the owner have to locally register the POA here in India before executing the process of transfer and what will be the registration amount?
Hi, I am planning to buy a flat in Bangalore but the owner of this flat is in US and he has given the Power of Attorney to his relatives. I wanted to know how safe is it to buy a flat in this scenario since the POA of this flat was made in New York's Indian Embassy. Does the owner have to locally register the POA here in India before executing the process of transfer and what will be the registration amount?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
A power of attorey executed before the Indian Embassy in USA in a manner recognised in law and forwarded to India and duly adjudicated and stamped can be lawfully used to transfer the flat.
Legal
#price
Do you have any idea why there is a price hike in the properties in Nasik? Also, the population inflow is increasing rapidly, any idea about it?
Do you have any idea why there is a price hike in the properties in Nasik? Also, the population inflow is increasing rapidly, any idea about it?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague.
Legal
#kiran#land#worth#paid#payment
Kiran has bought a land worth 40 lakhs from Aman. Kiran paid 10 lakhs to Aman as advance payment and still owes Rs. 30 lakhs to him. They have a written agreement that states that if the remaining amount is not paid to Aman, Kiran's registration will be foregone. Kiran has given the Power of Attorney of the land (which is revocable) to Ram for Rs. 15 lakhs. Kindly advice, if it is possible for Ram to register the land in the name of his wife before the Power of Attorney is revoked by Kiran?
Kiran has bought a land worth 40 lakhs from Aman. Kiran paid 10 lakhs to Aman as advance payment and still owes Rs. 30 lakhs to him. They have a written agreement that states that if the remaining amount is not paid to Aman, Kiran's registration will be foregone. Kiran has given the Power of Attorney of the land (which is revocable) to Ram for Rs. 15 lakhs. Kindly advice, if it is possible for Ram to register the land in the name of his wife before the Power of Attorney is revoked by Kiran?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
No, the title of Kiran is itself incomplete and thus, any transaction by Ram in favour of his wife would be of no consequence and would not pass any title to his wife.
Legal
#property#heirs#unmarried#rent
My grandfather has 7 children, 5 daughter and two sons. Although, they have their own property they are staying in my grandfather's property. They do not have any heirs. Can the children of the other their children claim the property as three of them are unmarried. We require the property as my mother is widow and my other sister is living on rent and all of this is a problem. What do we do to claim the property?
My grandfather has 7 children, 5 daughter and two sons. Although, they have their own property they are staying in my grandfather's property. They do not have any heirs. Can the children of the other their children claim the property as three of them are unmarried. We require the property as my mother is widow and my other sister is living on rent and all of this is a problem. What do we do to claim the property?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
All children of your Ganrd father would have equal share in his estate. On death of any of the children and if there are no heirs of such children, then his /her share in the property would also devolve on his/her remaining brothers and sisters and/or their respective heirs.
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