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Answered on November 09, 2017
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  • Under scenario 1, if you sell your residential flat and invest the capital gain arising therefrom in another residential flat then the provisions of section 54 of Income Tax Act would apply i.e selling of one residential property and buying another residential property within the time limit specified under section 54 of the Income Tax Act will apply and capital gains so arised shall be exempted...
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    Answered on November 09, 2017
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  • Stampy Duty and Registeration fees will depend on the stamp duty provisions of each State. For Maharashtra, the rates are as below:

    a) The stamp duty rate will be 5% of the agreement value or market value (computed as per the ready reckoner rate of the area), whichever is higher

    b) Registration fees will be 1% on the market value or the agreement C72value but restricted to Rs. 30,000.
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    Answered on November 09, 2017
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  • You can enter into a tripartite agreement with the developer inter alia in respect of the flat and which tripartite agreement could also be the sale deed which can be executed prior to the completion of the construction of the property or in the alternative an agreement can be made between the husband and wife whereunder the husband transfers a proportionate undivided interest in the flat in fa...
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