Ranjan Luthra
20 June 2015 at 16:29
Hello,
I've the query related to capital gains for the following situation:
Transaction 1:
I had purchased a flat in 2006 for 20 Lakhs and sold it in Nov 2011 for 57 Lakhs. The long term capital gain of 20.4 Lakhs (post indexed cost consideration) was re-invested in the Dec 2011 year in an under-construction property (Cost 80 Lakhs) that was supposed to be constructed with-in 3 years (by Dec 2014).
Transaction 2:
However, the construction got delayed by an year and now I'm selling this under-construction property for a sale consideration of 1.2 Cr given my changed family needs. I'll re-invest the capital gain ( 3 years) and re-investing the entire sale proceeds into a different investment, can i claim LTCG on this? As per all the articles that I have read on the internet, an under-construction property with requisite flat details and with an allotment letter issued more than 3 years back, it should be considered for tax exemption under LTCG.
Kindly confirm if there is any tax liability on me given the situation above.
Thanks in advance,
Ranjan
ashishdhamecha
20 June 2015 at 11:08
i suit an application for the tax appeal..naw in which proviso to add municipale as a respondent..
satish k c
19 June 2015 at 20:03
I want to buy pepper and coffee plantation land in karnataka.I do not hold any agricultural land and my annual income is more than 2L per annum.Can i buy plantation and ger RTC in my name.
rajan chopra
19 June 2015 at 16:55
Sir in a suit for recovery filed by me the defendant filed affidavit in his defence and was cross examined by my counsel.In answer to a question the defendant denied signatures on w.s and vakalatnama also besides other documents such as pronote,stamp paper and admitted signatures on affidavit and summon only.The judge after hearing defendant's denial of signatures on w.s and vakalatnama asked defence counsel wheather the defendant has signed or not on these two documents and was answered in affirmative.The judge said that it seems forgery is being committed either by defendant or counsel and now case is at argument stage.what can be or should be efforts by me further for the sake of my interest?
ajay kumar
19 June 2015 at 15:38
My Grand father purchased and rented/leased out a plot of land of 400 kathaa in year 1934. Now in year 2015 we intend to sale the same plot to same tenant/leasee, but he is offering a price which is much below the circle rate, as because he is tenant since more than 80 years.
1) Can registrar reduce the stamp duty seeing that the property is fully letout since more than 80 years.The said plot of land is located in Howrah area of West Bengal.
2) If registrar can reduce the stamp duty, than up to what extent.
3) If I sale the plot below the circle rate what will be the consequences under Income Tax.
PCE
19 June 2015 at 11:49
HI experts,
I am an Iranian National. I had come here to study on Student visa. I have completed my studies and have to return to my country. I am told that I have to obtain a Police Clearance Certificate. I googled the same but i could not find anything to fill/ download. I was told to go to FRRO site. I went but i found only the EXIT form. Can you please help me with the info or link where i could find the form. Its very urgent.
Thanks in Advance.
PCE.
narendra
18 June 2015 at 21:05
Sir, I have question regarding property dividation. My maternal grandpa expired on 24.4.2011. The land of 39 acres was on his name and his unmarried blind brothers name togetherly. Grandpa has 2 son and 4 daughters (all are married). Dividation of property was stopped in between in his present in 2008 legally. only collectors order of reservation of land is done. At that time nothing was given to daughters. But my question is ...whether now all girls (married before 1993) are having equal rights in property? Kindly help.
Praveen Choubey
18 June 2015 at 17:59
Dear Sir,
One borrower has availed one Housing Loan and repyaing regularly with NIL overdue.
The same borrower has also availed one Personal Loan and defaulted in repayment which resulated in huge overdue.
Since both accounts are in same cust-id, both accounts are marked NPA.
My query is, whether we may initiate SARFAESI action against the borrower.
If Yes, then whether we may include the outstanding dues of Personal Loan in the demand notice.
Please guide!!
Nithiselvan
18 June 2015 at 16:43
Last year May 1st 2014 i had shifted to a new house for lease. At initial talk to house owner , he said, lease is for 2 years but as per law, agreement will be made for 11 months and it will renewed after expiry. Amount paid as lease is 1,80,000. Before completing the first year, house owner asked us to vacate the house. i had argued him that why he said lease is for 2 years and now asking to vacate. he said he want the house for his personal purpose. Finally i decided and told him that house lease is completing on April 2015 and need 2 months further time to vacate therefore May 2015 and June 2015. Same he accepted. I had find a new house and informed current house owner that I am vacating the house by May 15 so please be prepare with the lease amount settlement. But he said, he don’t have money at the time of house vacating and he committed to give 60000 rs as advance settlement on May 27th 2015. I had dropped house search since the current house owner is not having money. As said he had given 60000 rs on May 27th 2015 and said he will give balance 1,20,000 on June 15th 2015. And I had asked to vacate the house within 2 days after final settlement on June 15th. I had not accepted his statement and told that I will vacate the house between June 15th and July 15th 2015. Once he had given the 60,000 rs I find another house for rent and given he advance amount on June 1st 2015 and I have to pay rent for that house for June month for new house. Now on June 16th current house owner says he doesn’t have money right now and asks us to continue for further 3 months or he will arrange for another tenant and give the balance money 1,20,000 from him to us. Still he is not committing the date of settlement. I had explained my situation that I had booked new house and to pay rent for that house for June 15 itself and I couldn’t vacate the house with out full settlement. I had said him that as I committed I will vacate the house on June 18th and I will handover the keys and document to police station with complaint. For that, he threatening me with fighting attitude. Using words like beating, punching etc etc. This is my situation. How to handle this without loss please guide me.
I had asked him question, why you ask us to vacate the house if you doesn’t have money to settle. He simply says that time I had money now don’t have money.
my query is lease agreement period over by April 2015. now i am ready to vacate the house and arranged another for rent and paying to that. but current house owner refuses to give money and says he will give it on his own time. what to do
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