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i am purchasing my moms house. we are in agreement on everything, so do not want to go through a realtor. i was wanting to know if there is a way to pull the contract papers for us to sign off the internet, and then file them ourselves, so we do not have to pay an attorney.
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My husband bought one land approximately 10 years ago. The land was purchased in my name. After that we built a home in that land usisng our savings, personal loans etc. Being a house wife I don't have any income. After that we are planning to sell that house. What tax implecations do we have? As the total cost of acquisition is not calculated (as we put in our savings as and when we could), and as the house is in my name please let me know what are the laws applicable here?
Thanks a lot.
This is about India tax laws. Sorry for not mentioning that clearly. If I have asked in wrong thread, I am also sorry for that.
Now some more details.
My husband purchased the land 13 years back.
He built the home approximately in 2 years so that got ready approximately 10 years back. The home is also in my name. All the mutation of the land and other things has been done in my name. If I sell that home along with the land, I will receive the payment. Now we has built that using our earlier savings, we don't have exact cost of acquisition. And more my husband is a senior citizen (age 64) by now. If I sell that property right now will the cost of acquisition will be calculated including the land price and home development cost?
Please let me know if you require any more information.
If we sell that right now do I need to calculate the tax using Cost Inflation Index?
Who is supposed to pay the tax? Myself or my husband? (I had no separate income being a house wife)
Thanks a lot.
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I am asking because i'd like to know more about their product and how i can buy them.i am into buying and selling of home appliances, i'd like to include Kelvinator Products in my line of Goods
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