The sale contract may or may not lead to an effective sale of the property in question. Some stamp tax laws, such as the Maharashtra Stamp Act, consider that an agreement to sell a property on the same basis as a proper transport record, as well as a proper transport record, are subject to the same stamp duty as the one in force for the proper sale of a property. Under these provisions, which require the payment of stamp duty on a sales contract, a sale agreement is wrongly considered a good act of sale. TDS or tax deducted at source is the number 1 on the list, the banks in advance consisting of a real estate deal. If you resort to real estate credit, then bank/real estate credit providers will insist that you deposit the TDS in advance. The amount is huge for TDS on NRI under section 195. In almost 99% of cases, the bank insists that the buyer pay the TDS advance before paying the end of the bank and provide the payment receipt. It`s pretty ridiculous. The rule is that TDS is only due at the time of payment. How can you force a buyer to deposit TDS in advance? „Locked-in property can only be transferred by a transport permit (deed of sale), duly stamped and registered legally.
We therefore assert that goods can only be transferred/transported legally and legally through a registered transport obligation. It is quite surprising that, in some cases, banks insist on advances under a real estate agreement. Such cases are contrary to existing rules and regulations. In short, deliberately or unintentionally, banks put the buyer`s money at stake. In other cases, buyers are captured by smart brokers or sellers. In very few cases, a seller`s intention is to commit financial fraud. I only share very common scenarios. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. This absolute rule is subject to the exception of Section 53A of the Transfer of Ownership Act.