Gautam , Apartment Resident
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Can Buyer give premium amount cheque in favour of co-applicant
Q: Sir,My brother has purchased a Flat in Gurgoan in july 2011. he paid almost 95%(Subvention scheme-he has not to pay EMI for 18 months,Builder will pay EMI till 18 months).He paid 20% himself and rest with bank loan.Now he want to sell this flat,In this flat my brother is Applicant and father is co-applicant.Due to property appreciation he is about to get some premium amount on flat.on this premium amount he has to pay short term capital gain tax,since he has kept flat less than 3 years. My brother was outside India,so he given power of attorney to my father.

Latest Answer: I did not understand why will builder pay EMIs? Your brother has taken bank loan and he has only paid 20% you said, then why should builder pay? please clarify. Which project is it and where is it located?

Can buyer give cheque of premium amount ,partially in favor of applicant and partially in favour of Coapplicant.
Q: My brother has booked a flat.He is applicant and my father is co-applicant.Now he want to sell it.Can he cheque of premium amount in favor of father or partially in favor of father and partially in own favor.He want to save short term capital gain tax on premium amount.

Latest Answer: Hi Gautam, your brothert wants to sell it? what about your father.. i think his consent is also necessary. Are both of them planning to sell it to others or only one person's share has to be sold? please make it clear.

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