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Anonymous

Posted 5 months ago

My father had purchased a property in 1970 which is in my name since last ten years. This year I demolished the house which was built on it at the time of purchase by my father and got a new plan passed by the municipal corporation and constructed new semi constructed building on it. Now I want to sell a part of it. Now my question is whether it will attract long term capital gain as my father had bought it in 1970 and it is in my name since last ten years or short term capital gain since I have constructed a new structure on it by demolishing the original structure and it has just been 11 months since i started the new construction
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A. Dear client, contact some financial tax expert advocate through vidhikarya.com
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Rajender Prasad Exp: 5 Year(s) New Delhi
I have a plot in Nagpur. It is a agricultural land and I have build shops & house on that Land. Since it is an ancestor property so there are 7 owners(Brothers & sisters) and each owner has 1000 sqft area. Now, the problem is we have verbally agreed to divide the land in 7 equal parts however, few of the owners are not ready to document this in stamp paper. 1) Can you let me know what is the process & documents required to file the tax on this land ? 2) Can i file tax only on plot i.e 1000 sqft aread ? 3)What are the consequence if the tax is not paid and for building shops & house on agriculture land ?
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A. approach the nagpur distt admin. for the same but you have show them papers and you have to satisfy them that 1000 sqft area is in your name . For details, pl. contact some advocate through vidhikarya.com
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Rajender Prasad Exp: 5 Year(s) New Delhi
Sir, I'm having 18-rooms building in pune. It is individually owned. Recently 1-year before maintenance society was formed and it made complaint against me to Pune Muncipal Corporation to charge me as commercial property tax. Till now since last 20-years I've been paying residential tax. In 12-rooms i'm keeping paying guest. Is it correct for the Muncipal Corporation to charge me as Commercial tax ? What I've to do so that corporation does not charge my property as commercial because Paying guest is not an commercial business?
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A. represent your case to M.C. through some advocate. Contact vidhikarya.com in the matter
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Rajender Prasad Exp: 5 Year(s) New Delhi

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