When buying property in India, it's essential to verify the authenticity and legality of the documents presented by the seller to ensure a secure and transparent transaction. Here's a comprehensive guide on how to verify property documents in India: 1. Sale Deed: Verify the Sale Deed, which is the most crucial document in property transactions. Check for the seller's signature, property details,...
October 2023
When registering a property in India, certain essential documents are required during the possession and transfer of ownership. These documents help ensure a smooth and legally sound property registration process. Here's a comprehensive guide on the documents you'll need at the time of possession during property registration in India: 1. Sale Deed: The Sale Deed is a critical document that formally...
In India, you can authorize someone to register your property on your behalf by granting them Power of Attorney (POA). Here's a comprehensive guide on this process: 1. Power of Attorney (POA): A Power of Attorney is a legal document that grants one person (the attorney or agent) the authority to act on behalf of another (the principal) in various legal matters, including property...
In India, registration documents for property transactions are subject to specific language requirements to ensure legal validity and clarity. Here's a comprehensive guide on the language of registration documents in India: 1. Local Language Requirement: As per Indian law, the registration document should be primarily drafted in the local language of the respective state where the property is...
In India, property ownership is categorized into two primary types: leasehold and freehold. Understanding the distinctions between these types of property ownership is crucial for prospective buyers and investors. Here's a comprehensive guide highlighting the key differences between leasehold and freehold property in India: 1. Leasehold Property: A leasehold property is one where the land on which...
In India, leasehold properties are those where ownership rights are granted for a specific period through a lease agreement. To convert a leasehold property to freehold means to gain full ownership of the property. Here's a step-by-step guide on how to convert a leasehold property to freehold in India: 1. Understand the Process: The process for converting leasehold property to freehold varies from...
Capital gains on property purchase in India refer to the profit or financial gain realized when you sell a property for a higher price than the cost at which you acquired it. Here's a comprehensive guide to understanding capital gains on property purchase in India: 1. Types of Capital Gains: Capital gains are categorized into two types: long-term capital gains (LTCG) and short-term capital gains...
In India, capital gains are categorized into long-term and short-term, each subject to different tax rates and treatment. Here's a comprehensive guide highlighting the key differences between long-term and short-term capital gains: 1. Definition: Long-Term Capital Gains (LTCG): LTCG refers to the profit earned from the sale of a capital asset held for an extended period, typically exceeding a...
The Capital Gain Account Scheme (CGAS) in India is a specialized financial scheme designed to help individuals and businesses manage capital gains and save on taxes. This comprehensive guide provides an understanding of CGAS and its various aspects: 1. What is the Capital Gain Account Scheme (CGAS)? CGAS is a government-initiated scheme in India that allows individuals and businesses to deposit...
Capital Gains Tax is levied on the profit earned from the sale of capital assets in India. However, there are several exemptions available to help reduce or eliminate the tax burden. Here's a comprehensive guide on how to qualify for exemptions on Capital Gains Tax in India: 1. Long-Term and Short-Term Capital Gains: In India, capital gains are categorized into long-term and short-term based on the...