Results for #impact
Legal
#impact#delhi#process#property
I am planning to get an Australian citizenship, for which I would have to surrender my Indian passport for the same. Will this have any impact in my properties in Delhi? Is there any documentation for this process? and more importantly, my family would also have an Australian citizenship, so will they be able to use the property?
I am planning to get an Australian citizenship, for which I would have to surrender my Indian passport for the same. Will this have any impact in my properties in Delhi? Is there any documentation for this process? and more importantly, my family would also have an Australian citizenship, so will they be able to use the property?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
It would have no difference on your title to the properties as you would be entitled to retain the same being a Person of Indian Origin and also since you acquired the same when you were Indian citizen.
Purchase & Sales
#prices#impact#property
Do ready reckoner prices have an impact on the prices of property? If yes, what is it?
Do ready reckoner prices have an impact on the prices of property? If yes, what is it?
Answered on November 08, 2017
Ready reckoner has the single most important impact on the pricing of any property. Most of the premiums of the statutory authorities are tied to the ready reckoner. Hence an increase in the ready reckoner price has a direct increase on the cost, which shall ultimately affect the price. A classic example of the same can be seen in Mumbai, where ready reckoner prices have increased multi-fold in...
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Taxes & Duties
#flat#mumbai#selling#pune#avoid
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
Answered on November 08, 2017
Since the Pune Flat is owned by your mother, capital gains will arise to your mother. By investing in another residential flat exemption u/s. 54 of the Income Tax Act can be claimed upto a value of subsequent purchase.
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
RERA
#impact
What will be the impact on the real estate industry in India once the RERA Act comes into effect?
What will be the impact on the real estate industry in India once the RERA Act comes into effect?
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
There are mixed views on the impact of RERA. While on one hand due to the increased accountability on part of the Promoters, it is expected that it will be safer for the buyers to select registered projects and buy after scrutinizing all available information on RERA website, on the other hand due to imposition of strict guidlnes vis-a-vis deposit and withdrawal of sales proceeds to and from de...
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Legal
#property#water#impact#ownership
I jointly own a property with my brother. The electricity and water connection bills are on my brother's name. I want to know if this would have any impact with regards to the ownership of the proeprty. We have jointly owned this property for 15 years now.
I jointly own a property with my brother. The electricity and water connection bills are on my brother's name. I want to know if this would have any impact with regards to the ownership of the proeprty. We have jointly owned this property for 15 years now.
This question has not been answered
Answered on November 08, 2017
This is a very generic question. However, it would depend upon the facts of each case. Under the VAT regime, many States had introduced composition scheme with tax rates as low as 1%, without Input Tax Credit (ITC). There is no such composition scheme under the GST regime. At the same time, builders would be eligible to claim ITC on inputs/input services used in the execution of works contract...
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