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Rahul (Teacher)     09 August 2017

Property registration at west delhi

Hello Experts -

I am selling a second floor with roof rights @ hari nagar west delhi and the purchaser wants to make 2 registries ( 1 for floor and another for roof) . he will pay all the registration fee/charges. I want to know if there is any impact on me due to this ? The registry is made for 2 seperate parties . Your help will be highly appriciated.

Thank You

Rahul



Learning

 8 Replies

Kumar Doab (FIN)     09 August 2017

If the property/construction is not illegal and roof rights can be sold then it may be possible. 

Kumar Doab (FIN)     09 August 2017

It is felt that similar query has been discussed earlier.

Siddharth Srivastava (Advocate)     09 August 2017

No because in the last you are selling floor and also roof. It does not matter whether you are selling one person or to two persons. 

Rahul (Teacher)     09 August 2017

As i am selling the roof rights seperatly , will this money be counted as earning for me or just a regular sale where I have to pay the captial gains ?

Kumar Doab (FIN)     09 August 2017

As a buyer you are getting a payment for selling your ownership rights.

The whole proceeds are coming to your hands.

It is felt entire amount of sale consideration can be subjected to tac treatment.

Siddharth Srivastava (Advocate)     09 August 2017

it will be counted as sale.

Rahul (Teacher)     09 August 2017

I didnt get you Sir when you say Tac treatment, Im more concerned if income tax says the roof rights you sold out will be earning for you and i have to pay tax on that amount is that possible ?

Rahul (Teacher)     09 August 2017

I am trying to understand this -

I purchased a flat with roof rights 8 years back for Rs, 500000/ for example now I'm selling roof for Rs. 400000/ and Flat for Rs. 1000000/- will captial gain will be calculated as ( 100000+400000 = 1400000 - 500000 = Rs. 900000/-

 

Or Rs. 400000/ will be couted as earning for me and I have to payr tax on that and remaining amount which is 100000 - 500000 =- Rs. 500000 will be captial gain for me ?

 


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