Maximum Limit to sell property

Querist : Anonymous (Querist) 06 November 2009 This query is : Resolved
What is the maximum value of the property to be sold without income tax clearance?

Follow Query

Report Abuse

A V Vishal (Expert) 06 November 2009
THE CLEARANCE SYSTEM HAS BEEN DONE AWAY WITH. IF THE PROPERTY BOUGHT OR SOLD IS 30.00 LAKHS AND MORE THE INFORMATION IS PASSED BY THE REGISTRATION DEPT TO THE TAX AUTHORITIES UNDER AIR AND NOTICES WILL BE SERVED BY THE IT DEPT, WHEREIN, THE VENDOR/VENDEE HAS TO SUBSTANTIATE HOW THE SALE PROCEEDS WERE UTILIZED/ SOURCES OF INCOME IN RESPECT OF THE VENDOR AND VENDEE.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Daughter right in ancestral property -
Need advice regarding property
Old property document un-registered - what need to be done to sell this property?
Witness property encrochemnt
Witness property encrochment
Joint property issues
Transfer of property by power of attorney holder for his own benefit
Distribution of property in case of death
Writ petition for woman's seeking share on ancestral property
Can stay in a property with senior citizen as caretaker in which application is forwarded for title