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Answered on November 09, 2017
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  • No, under the relavent Income tax and Stamp act provisions, stamp duty and income tax is assessed based on the market value of the property. However if the genuine market value is infact Rs.12 Lakhs, then you would have to file appeals challenging the assessment of the property at Rs.30Lakhs before the Stamp authorities first and if the transaction is infact concluded, also before the Income ta...
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    Answered on November 09, 2017
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  • Yes, it wouldnt make much difference. All sons of the party in question could claim ownership on the basis of the terms of the Will. It would however depend on the terms contained in the Will and further, the Will will have to be probated from a Court of competent jurisdiction.

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    Answered on November 09, 2017
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  • Depending on your religion, the share of your father in the property will belong to your mother and her two daughters equally (in case of Hindus) and if the same is to be trandferred in her sole name, then the two sisters will have to transfer their respective shares in the property to the mother by way of a registered document. If the mother expires, then the property comes to the share of the...
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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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  • The process for buying of properties by an NRI is same as that for resident Indians. The procedure for foreign nationals is differnet and requires permission of the RBI.

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    Answered on November 09, 2017
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  • The question is vague, if you have the title documents and do not have physical possession of the property and the same is with someone else, then you will have to file a civil suit for possession of the property on the basis of your title documents.

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    Answered on November 09, 2017
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  • You can file a partition suit in connection with the share held by your father in the property in question and such suit can be filed in a court within whose jurisiction the property is located.

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    Answered on November 09, 2017
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  • The right to admit execution of a document before the registration authorities can be granted to someone by way of a Power of Attorney. An NRI can execute such Power of Attorney before the Indian embassy at the place where such NRI resides and forward such Power of Attorney to India for adjudication and payment of stamp duty and thereafter, such Power of Attorney can be used to admit execution ...
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