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Dear Client,
To claim a tax rebate under Section 54 of the Income Tax Act, capital gains arising out of the sale of an immovable property have to be reinvested to buy another residential house. The new residential house property should be purchased either one year before the date of capital gain or two years after the date of capital gain. In the case of constructing a new house, the individual is given an extended time period to construct a house, i.e., within three years from the date of rece

Dear Client,
Under the Tamil Nadu Combined Development and Building Rules-2019, specifically, duties and responsibilities are enunciated in PART V “Registration of Professionals” Rule No.23, read with Annexure XIII, an application for registration of professionals or developers is required to be filed with the concerned authority along with the prescribed fees. No provision appears in the said rules extending the immunity to a professional from the payment of property tax @ commercial catego

Dear Sir,
You have to approach chartered accountant to resolve the issue and to find out other alternative notes. In the meanwhile get issue a legal notice to C for giving ITD to B or A so that the said amount is paid to the Income Tax Department.

Dear Client,
Municipal corporations provide various services like water supply, sanitation, and infrastructure maintenance. If a municipal corporation is carrying out a statutory duty (like ensuring water supply), it's not considered a service under the Act, and the Consumer Protection Act doesn't apply. If a municipal corporation provides a service for which a fee is paid (like a license fee or specific charges permitting a construction activity ), then the relationship of consumer and service

Dear Client,
It is legally impermissible to generate a Property Tax Bill in the name of the tenant who is permitted to occupy and stay in a property for a specific period under a lease agreement. It appears that Property Tax is being generated by the Municipal Authority by default/mistake which has no legal implication and can be corrected/rectified on the application of the original owner of the property in whose name the property is mutated in the record of the authority. The Supreme Court re

Dear client
The particular section talks about a scenario where you’re trying to sell the property within three years and make money out of that. In this case, when your father is going to give the property to you, which means there will be no consideration which you shall be paying to your father, and therefore, there would be no transaction of money. In that case, they should be legally allowed, and there will not be any tax liability on your father.

Dear Client,
If the property is sold before 24 months from the date of acquisition, the gain on such transfer is termed as a short-term capital gain. Budget 2024 has proposed the following amendments effective from FY 2024-25 in respect of capital gains. A property held for less than 24 months is considered Short-Term and property held for short term shall continue to attract tax at slab rates. If total taxable income (excluding short-term capital gains) stays within Rs.2,50,000 for resident in

Dear Client,
If A transfers property to B and C as a gift and jointly owns the property in equal share, one half each, and later desire to sell the property in order to acquire two different residential immovable properties then the provisions of selling the inherited residential immovable property to reduce the burden of capital gain tax under the Income Tax Act, 1961 may be applicable. However, Section 54 is an allowance for exemptions on capital gains, where the proceeds realized from such co

Dear Client,

If you've bought a flat and encountered issues due to unlawful construction or reconstruction without proper permissions, you should request the Builder to comply with the Order passed under Section 112C of the Karnataka Municipal Corporations Act, 1976. If the Builder fails to address the issue despite your efforts, you can take legal action.

Firstly, if the housing project is approved by RERA, the Builder can be held accountable for any deviation or deficiency in service. You ca

Dear Client,

To address concerns or seek assistance regarding real estate and property matters, it would be beneficial to engage an advocate specializing in these areas. Additionally, you could directly approach the Sub-Registrar office, as they possess expertise in property-related issues and can provide guidance and clarification on legal procedures, documentation requirements, and any other relevant matters pertaining to property transactions. Consulting both an experienced advocate and the