Results for #instalments
Taxes & Duties
#flat#allotted#purchase#consideration#paid
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
I applied for a flat which was allotted three months later, entire purchase consideration was paid by me in instalments. Possession is not yet offered by the developer. I have entered in an agreement to sell, I have received the advance and will receive the balance amount soon. How can I calculate the tax liability on this?
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Answered on November 08, 2017
Tax liability will arise on capital gains arising out of difference between sale consideration and purchase consideration. The said gains will be considered as long term capital gains or short term capital gains based on the period of holding of the property. If the residential flat is held by you for a period more than 24 months than the same will be long term else short term. Indexation needs...
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RERA
#promoter#payment#instalments#buyer#maha
What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
Aahwaana Ramesh
40 Answered
Answered on November 08, 2017
The rate of interest payable by the promoters to the allottees or by the allottees to the promoters, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent: Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from t...
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RERA
#interest#promoter#default#ceiling#payment
Is there a ceiling on the interest to be levied by the promoter in case of default in payment of any instalments by the allottee/buyer?
Is there a ceiling on the interest to be levied by the promoter in case of default in payment of any instalments by the allottee/buyer?
Dhvanil Vakharia,Design Engineer
31 Answered
Answered on November 08, 2017
( Source : maharera.mahaonline.gov.in) In accordance with the model form of agreement, the Allottee has to pay to the Promoter, a rate of interest equal to the State Bank of India highest Marginal Cost of Lending Rate plus two percent, on all the amounts which become due and payable by ...
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Legal
#booked#flat#payment#instalments#possession
Shreya has booked a flat which is due to be delivered in December 2013 and made the payment in instalments. She wants to know that within how many days of taking possession should she register the flat with concerned department?
Shreya has booked a flat which is due to be delivered in December 2013 and made the payment in instalments. She wants to know that within how many days of taking possession should she register the flat with concerned department?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Registration is required to be done within a period of 4 months from the date of execution of the Agreement. There is also a provision for further period of 4 months for registration subjet to payment of penalty.
