is temporary posseion letter equivalent to permanent possesion
This query is : Resolved
09 October 2007
sir,
my builder has given me temporary posseion letter for making furniture and fixtures stating that he has not receive occupation certificate from bmc. and he in actual gave us posseion and we stayed in the house.is this possesion letter valid in view of income tax for transfer of property and calculating the holding period of 36 month.
my builder has given me temporary posseion letter for making furniture and fixtures stating that he has not receive occupation certificate from bmc. and he in actual gave us posseion and we stayed in the house.is this possesion letter valid in view of income tax for transfer of property and calculating the holding period of 36 month.
09 October 2007
THE HOLDING PERIOD OF 36 MONTHS IS RECKONED FROM THE DATE OF TRANSFER OF THE PROPERTY IN YOUR NAME.
FOR TRANSFER OF ANY PROPERTY THE TITLE SHALL BE VALIDLY TRANSFRRED IN YOUR NAME. THE ONLY VALID PROOF IS REGISTRATION OF THE PROPERTY IN YOUR NAME.
THE BUILDER SHOULD REGISTER THE PROPERTY IN YOUR NAME.
TEMPORARY POSSESSION LETTER IS NOT A VALID PROOF OF TRANSFER OF A PROPERTY.
WITHOUT A VALID OCCUPATION CERTIFICATE ,NO BUILDER CAN GIVE ANY VALID POSSESSION TO ANY BUYER.
R.V.RAO
FOR TRANSFER OF ANY PROPERTY THE TITLE SHALL BE VALIDLY TRANSFRRED IN YOUR NAME. THE ONLY VALID PROOF IS REGISTRATION OF THE PROPERTY IN YOUR NAME.
THE BUILDER SHOULD REGISTER THE PROPERTY IN YOUR NAME.
TEMPORARY POSSESSION LETTER IS NOT A VALID PROOF OF TRANSFER OF A PROPERTY.
WITHOUT A VALID OCCUPATION CERTIFICATE ,NO BUILDER CAN GIVE ANY VALID POSSESSION TO ANY BUYER.
R.V.RAO
09 October 2007
The transfer of possession without obtaining Occupation Certificate from the proper authority. Builder is not authorised to issue O.C. and it will not be considered for calculating the holding period of 36 months.
10 October 2007
Occupation certificate is the valid document for income tax purpose
10 October 2007
Occupation Certificate issued by whom? Builder or proper authority?....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- GST Reverse
- Two seprate Invoice needed
- Director payment
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
