TDS is applicable to every property except the agricultural property. Section 194 IA of the Income Tax Act provides that the buyers are responsible to make a payment of 1% of TDS to the government account if he is making a payment exceeding Rs. 50 Lakh to the seller of the property on the transaction of a residential property.
When a property is inherited, a person is not levied with tax under the law. However, he may be made liable to pay capital gain tax in case he sells the property.
In recent years there has been a boom in the real estate sector of our economy. Despite the introduction of the Real Estate Regulation Act, there have been various issues due to misrepresentation, fraud, cheating, forgery, etc
The decision regarding the option of the interest rate is vital as it can impact your financial abilities, thus you should know necessary details concerning both the options and on what grounds they differ before arriving at a decision.
Sometimes when a homeowner wants to draw some of the equity in their property, they get upset to find the bank valuation is lower than the market value
The sale of residential property requires much due diligence on the part of the seller of the property. In a sales transaction, the role played by the seller is also crucial because he should ensure that there are no disputes and to get the highest possible return from the property.
The most important stage of a property purchase is when the buyer receives the letter from the builder to take over the possession of the property. However, the buyer must ensure certain steps or verifications that the buyer should make.
If the parties mutually decide upon the asking price or the buyer’s offer price as the final sale value, the property transaction becomes a lot simpler. This article seeks to explain certain facts about the asking and address questions on the topic.
There are several homeowners who are not aware of subsidiary rights that come bundled with these primary rights. There are several laws legislated by the Indian Parliament and various state legislatures for the benefit of homeowners with respect to their residential property.
There are some crucial facts when it comes to the sale of a house like ascertaining the value of a house, preparing and maintaining documents as record and proof of the sale, aspects of the price negotiation, registration process etc.
