How to ascertain tax involved in selling a slum hutment
I am in the process of selling a slum hutment held by my father, who passed away intestate. I have understood that a slum hutment does not have a registered sale document. We need to execute an affidavit transferring the Photo Pass (and other relevant licenses) in the name of the buyer.
Q1. Should this affidavit indicate any monetary transaction since it is not a sale agreement but only a transfer document? Is this a standard document which I can refer to?
Q2. Is there a ready-reckoner rate for slum hutment that needs to be followed? Will registration and stamp duty charges apply here?
Q3. What is the rule to ascertain the tax liability on this transaction since this is not a registered property sale?
Asked 1 year ago in Property Law
Religion: Muslim