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Real Estate Forum on Property Tax

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Q: What to keep in mind when you are selling a property? How to calculate capital gain from property selling?

Latest Answer: I sold a residential plot in 2014 and I invested total amount arise from selling a plot in buying a residential. What can I do to save on the tax over capital gains this time?
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Q: How to set a budget to buy your first home, in order to make the process manageable and enjoyable?

Latest Answer: Hi, You must consult a real estate developer to discuss your requirements. He will let you know the budget that you should go for.
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Q: From sector 58 to sector 115, the maintenance charges be paid to HUDA along with property tax to Municipal Corporation Gurgaon (MCG).
Latest Answer: According to news - HUDA administrator Anita Yadav has sought a new policy for collecting maintenance charges from the new sectors 58-115 and that the handing over of maintenance services of all old sectors from 1 to 57 to the MCG be expedited.
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Q: Give description about your Question.
Latest Answer: Pallavaram municipality comprises 43 wards with a population of about 2.5 lakh, including 50,000 assesses. With 20000 underground drainage connections in place, municipality plan to expand the project to give connection to the rest 30000 but without funds authorities are unable to complete work in proper manner.
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Latest Answer: Hi Gautam Das, A source at NDMC said the council was going by the bye-laws. We are sticking to the rules. The Act says a notice needs to be sent before any recovery of tax. Also, there is no stay from the court. The notices of demand that have been sent to areas are in accordance with the NDMC Act.
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Latest Answer: Hi Sooraj, Calling it a win-win situation for both residents and the authority, GNN official said that , the increased tax revenue in house tax would outweigh the loss of revenue from parking receipts. In the financial year 2013-14, we(authority) collected Rs 1.35 crore from 54 designated parking lots in the city. If we succeed in encouraging all 30% tax defaulters to pay up, the amount that will fall in GNN's kitty will be much more than what we will lose from the free parking incentive.
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Latest Answer: Hi Arpit, According to news, North Delhi Mayor Ravinder Gupta declared that the digitized information will be transferred as a hyperlink for an audit of advanced digital records against each & every sections in the database. The information will be kept up at the zonal levels and also at the headquarter level.
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Q: People want to register before the state's new ready reckoner regime came into effect on January 1.
Latest Answer: The Maharashtra government, last week only increased the ready reckoner rates by 40 per cent. Builders are planning to take the hint and increase prices further. Delhi also saw a raise in circle rates by 20 per cent across the areas in September last year.
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Q: Hi, my father has given me one plot in Bangalore near sarjapur road. I want to know what is the factor taking into consideration in gifted property?
Latest Answer: HI, A gift means something given voluntarily without payment in return, while the meaning as per the Transfer of Property Act, 1882 is transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person to another. Generally, a gift of property is documented in writing by a gift deed.
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Q: I sold a piece of land in 2012. With that money I bought a residential flat to save on the tax over capital gain. Now I am planning to sell my another piece of land. What can I do to save on the tax over capital gains this time?
Latest Answer: Please go very carefully through the provisions contained in section 54 and 54F of the Income-tax Act, 1961. Apparently, it appears that you will not be able to save income-tax.
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