Consultation India - Pune, Mumbai Real Estate/ Properties Investment, Property Management Services

From June 1st 2013, when a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural land)  costing more than Rs 50lakhs , he has to deduct TDS when he pays the seller. This has been laid out in  Section 194-IA  of the Income Tax Act. Here are the requirements of this section: The buyer has to deduct TDS at  1%  of the total sale consideration. Note that the  buyer  is required to deduct TDS, not the  seller . No TDS is deducted if sale consideration is less than Rs 50lakhs. If installments are being paid TDS has to be deducted on each installment. Tax is to be paid on the entire sale amount. For example, if you have bought a house at Rs 55lakh, you have to pay tax on Rs 55lakh and not on Rs 5lakh (i.e. Rs 55lakh – Rs 50lakh). This is applicable even when there is more than 1 buyer or seller. If you are the buyer, you do not need to obtain a TAN (Tax Deduction Account Number) number. If y...

Greetings,  2acres amenity reservation plot for sale at prime location near Phase 1, Hinjewadi Rajiv Gandhi Infotech Park, Hinjawadi, Pune, Maharashtra Plot state is amenity space, Road touch frontage, ideal for school or hospital or any other public amenity, asking price Rs.2000/- per Sqft.  For plot purchase,  Built to suit option: can also make built to suit for buyer or school looking to have hassel free assistance in constructing the local approvals etc.  For more detail genuine enquiry, pls contact. Thanks & Regards, Deepak Sundrani, The Guru Realty, RERA CERTIFICATE NO. A52100002438 Member NAR - INDIA (National Association of Realtors - India) Member ICREA (International Consortium of Real Estate Associations) Member of EAAP (The Estate Agents' Association of Pune) Shop No. D-110, Ground Floor, Megacentre, Behind Noble Hospital, Hadapsar sholapur highway, Near Magarpatta IT park,   Pune - 411028, Maharashtra, India. Tel/Fax: +91...

Dear Readers of my Blog, thought to share my brief email correspondence with my NRI client on the matter of his query of Capital Gain tax on property sale in india, sharing as it is: Question: On 10-Jan-2018, at 12:12 PM, arindam das wrote: Hi Deepak Happy new year ! hope you are well. Can you pls advise your understanding of the long term capital gains tax rules for sale of property, should we decide to sell any of our India properties. Thanks and regards Arindam My Reply: Greetings Mr. Arindam,  Happy new year to you, I am fine, thanks. Reg. capital Gain tax on property: thanks for asking query to me although this question should be explained by CA OR LAWYER as this is legal /tax Related. However still as we are into this business & come across such transactions so can share you my personal understanding of the same as follows: Point 1) Capital gain tax is charged upon profit you make on any property. Point 2) profi...

Project Likely To Become A Reality in 2026 TIMES NEWS NETWORK Pune:The pre-feasibility study by Los Angeles-based Virgin Hyperloop One and the Pune Metropolitan Region Development Authority (PMRDA) has given a green signal to the Pune-Mumbai route for Hyperloop — the speedy mode of transport — and it could be a reality in 2026. The report of the preliminary study conducted by PMRDA and Virgin Hyperloop One (VHO) was finalized on Monday. It would be submitted to the state government on January 15, said PMRDA commissioner Kiran Gitte. He said the team from PMRDA and VHO, who conducted the study, stated if all the sanctions, the actual study and the proposed demands were cleared, Pune-Mumbai Hyperloop should come into existence in 2026. The study to ready the prefeasibility study was undertaken in six weeks after the state signed a memorandum of understanding. The study ended in January first week. “They study has been very positive in terms of feasibility of the rou...