Tax questions on Property Tax

TDS on Purchase of flat from NRI

Dear Sirs / Madams, A flat purchased in December 2017—in Kolkata by my father aged about 80. He is retired and bought the flat from his savings. Sellers – the co-owners ‘Husband and wife ‘..who happen to live/work in Kuwait. Flat purchased value – 23 lakhs , full payment made in cheque, and registration done in December’17. During the negotiation and Registration we only knew that TD...

26QB error

Dear Sir, I had bought a house in Mumbai for 77 lacs & paid 1% tds of 77,0000 on traces in March 2015. However the reflection in assessment year 2015-16 shows the transaction in part A2 and I am seen as the seller of the property and seller is seen as buyer & hence I am not able to generate form 16B. The sellers CA was trying all these years to change the same with sellers AO. I was being told...

TDS on property purchase from NRI

Dear Sir/Madam, I have made a sale agreement to NRI (through Power of Attorney) on 15th Jan 2018. I paid Rs. 100000/- as token amount. The Sale agreement was valid for 60 days (i.e. till 16th March 2018). Based on above Sale Agreement I applied for Home Loan and Sellar applied for Lower TDS (under section 195/197). Now my home loan was approved on Feb 10th, 2018 but Seller got Lower TDS certi...

Will my friends mom be entitled for tax ?

My friend's mom is a senior citizen and a homemaker. She is likely to sell her husband's ancestral property which is now in her name after her husband's death. However, she also have four children who also are co owners of the property located in her native place. Now, suppose she sells the house property for x amount. 50% payment of the property goes to her and rest of the money will be red...

Second purchaser under paid the stamp duty of the Flat property

First purchaser from the Builder (Through Booking while on construction of the Building)had paid the stamp duty and got registered the property in year 1994 The second purchaser who was Constituted power of attorney of the first purchaser had bought the flat from him on executing sale of agreement. He has under paid the stamp duty and not registered. The deal happened in the year 1997 I b...

TDS on property transferred

Hello Keerthiga I bought a Flat through a resale before registration and construction in 2014 and I have now completed all my payments to the seller and also to the builder. Earlier, the seller had made milestone payments to the builder for which the builder has been deducting TDS and paying to the Govt and the same goes for me. So when the transfer was made to me, a tripartite agreement wa...

Property sale registration

Sir, Query related against about property registration. One of my close relative and friend as well, he wanted to sell his property, worth Rs.19lacs, since he is unemployed. Having too much family pressure and daughter's education, he had debt almost crossed 8 Lacs, he has been paying 12K for that exist borrowed money for more than 6 years. Property worth Rs.19 lacs. He asked full cash b...

Buying of property from capital gain fund

Dear Sir/Madam, Our family had long disputed property which has been settled out of court recently from which I received sum of Rs 28 Lakh . When enquired about re-investing I realize that I can utilize these fund for buying property only until then I should park this sum in capital gain account in nationalized band and use it for buying properties in next two years or I should buy gove...

Property Holding tax to Rourkela Municipal Corporation

It may be kindly noted that the property holding tax pertain to holding no C.269 which has been massively excess billed to so many holds which is not at all any fairness in assessment to property holding Id C.269. As per the substantial verification and reconciliation into the revenue record at Rourkela Municipal Corporation office, the same may be verified that the adjacent holding 50 properti...

TDS with Penalty and Interest

Hi, I am an NRI and I have bought a property in Hyderabad in June 2012, however due to the delay from the builder side I am getting the property next month i.e. Feb 2017. On request from builder I have made the 1% TDS payments on all the installments (home loan and initial payment) to the builder, but the builder at the end decided to deduct TDS payments I made so far from what ever I owe to...