The example above was an operational side effect of advance in a real estate business. Now the question of millions of dollars is whether God forbids and after payment payment of TDS payment of the agreement does not pass. How will the buyer recover 20.66 Rs in this case? No one is prepared to answer the same thing. In a practical case, one of the blog readers lost in a similar scenario 15L Rs. He made the TDS payment advance and the seller died in a road accident on the way from Delhi to Chandigarh to execute the deed of sale. Although it is highly unlikely, an unforeseen event cannot be ruled out. 3. You can enforce the agreement in question on an Rs.500/- Some states require that a sales and usage tax be added to the purchase price of the personal property sold. Make sure you know who is responsible for these taxes in your purchase and sale agreement. The rules on stamp duty and registration fees vary from state to state. In some countries, you can buy stamp papers for stamp duty before registering the property register. The problem is that these papers are not transferable and are not refundable. The validity period is usually 6 months from the date of purchase.
Only a few states offer the option of paying stamp duty and registration fees in advance. It is also important to keep a record of the property you are selling for tax and accounting purposes. Selling real estate can affect your tax return. The Internal Revenue Service (IRS) asks you to report all other income, including income from „exchange and exchange of goods.“ A tax lawyer or accountant can provide you with more information about the impact that the sale of real estate can have on your tax return. In short, TDS as a prepayment in a real estate market is a BIG NO, even if it is 1% (in the case of a resident Indian seller). You can ask the bank what the payment date should be in this case on Form 26QB or Challan 281? And who is responsible if the agreement is not reached? In some cases, the sub-registrar insists on a prepayment of TDS for the registration of real estate. 4. The seller may agree to export and register a POA only after your full consideration for the price of the property.
3) it should also mention the consequences if the full payment is not made within the set time frame. You can enter a sales contract. Most of the payment should be made through the bank through RTGS, DRAFT or cheque. The sales contract is valid until the sale agreement is registered. 1. Make a sales contract in relation to the above property, – Carefully review the property documents. In other words, the advance in a real estate transaction also depends on the lag between the date of the sale contract and the amount of the sale. Based on my experience, I can say that if the delay exceeds 6 months, the probability of closing the real estate agreement is only 1 in 5.
The seller may resign if he gets a better price or an increase in the price of real estate. The buyer may resign if he thinks he will get a better offer or lower house prices. In some cases, the Street Smart seller acts and tells a buyer A to pay a prepayment in a real estate business for his home loan before closing. The probability of fraud is high in this case. The seller will close his house with buyer A`s money. The seller receives original documents from the bank. After that, the seller will sell the property to another party say Buyer B. The same property is now legally sold to Buyer A and Buyer B.