My paternal grandfather bought a residential plot in 1972 for ₹6 lakh in Delhi. He died in 1991 and the land was inherited by my father. My father built a house on the land in 1995 and gifted the house (and land on which it is built) to me in 2011. I sold the house …
How is capital gains calculated on transfer of an under-construction property? This question arises both when the property is sold before taking possession of the same, as well as when the property is sold after possession. There are primarily two issues here, both relating to the date of acquisition. One, from what date is the …
I recently sold a property owned jointly by my mother-in-law, my wife and me. The property was purchased with a loan taken in my name although the sale deed did not mention any proportion of our shares in the property. The buyer paid the sale amount in three equal parts to each of us and …
If a Hindu donor transfers property via a registered gift deed but subsequently sells this property to a third party soon after, which document will hold legal precedence? —Name withheld on request Your query infers that all the right, title and interest of the donor in the concerned property has been unconditionally and irrevocably transferred …
I am working in Australia and had invested ₹15 lakh in a residential property in India in January 2018. I now plan to sell the property for ₹18 lakh. Can the buyer deduct tax at the time of payment despite this transaction leading to a capital loss due to indexation? —Name withheld on request There …