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Answered on November 09, 2017
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  • If you own both the properties, then the propety held by you in name of your wife in Goregaon is a Deemed Let Out Property (DLOP) in your income by applying clubbing provisions of Income Tax Act. The ideal way to purchase new property is to gift the amount of sale consideration to your wife and then she can purchase the property in her own name then the same can be considered as Self Occcupied ...
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    Answered on November 09, 2017
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  • In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in June 2008. There are various methods for arriving at the taxable value of transfer of property in goods during construction. Libality to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
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    Answered on November 09, 2017
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  • The property will devolve on all the legal heirs of your father in accordance with the laws of intested succession depending on the religion you follow.