What is Will? – In a Will, a person (Testator) states that after his death how his self-acquired movable and immovable property or part which he owns in the ancestral property gets distributed. Stamp Duty – No Stamp Duty is Required for the Will. Registration or Notarization – Registration is not compulsory but if it is registered,…
Read these instructions carefully so that you will not face any issue during the process. Required Documents – Soft Copy of Photo (Size – 5 to 20 KB, Format – JPEG, Width – 160 Pixel, Height – 200 to 212 Pixel), Following documents should be in JPEG or PDF format and the size of JPEG…
What does a Will/Testament mean? Will is a legal declaration of the Testator’s wish as to how and in whose favour, the properties owned by him shall devolve, after his death. What are the requirements for a Will/Testament to be valid? As per Section 63 of the Indian Succession Act, 1925, below are the foremost…
Previously if someone wants to purchase a property from a developer or builder for an investment purpose, he used to get some exemption on the stamp duty if that property is being sold within one year. The stamp duty exemption duration was very less and a lot of people were not able to sell their…
In Pune and Pimpri Chinchwad, the Metro Cess is a tax levied by the concerned local government body (Municipal Corporation, Municipal Council, etc.). It is applicable on property transfers by way of Gift Deed, Agreement to Sell, Sale Deed, Deed of Assignment, etc. Currently, Metro Cess is levied at a rate of 1% on the…
Property Document Registration – In the registration process citizens can register the documents like Sale Deed, Agreement for Sale, Power of Attorney, Leave and License Agreement, Will, Mortgage Deed, etc. After registration, the document gets stored in the Government Database with one unique document number. All the registered documents get stored as public records (except…
What is Divorce by Mutual Consent? Divorce by mutual consent is a way of getting a divorce whereby the parties, i.e., the spouses, mutually agree or decide to get separated from each other amicably or peacefully. It is the easiest and simplest way of getting divorced. Divorce by Mutual Consent is regulated by Section 13-B…
If you want to purchase, sell or gift any immovable property in Pune, Maharashtra, like New Flat, Bungalow, Open Plot, or any resale Property then you will need to pay the Stamp Duty charges. These charges include Stamp Duty, LBT, and Metro Cess. Department of Registration and Stamp, Maharashtra has provided an online stamp duty…
Now the people in Maharashtra can submit applications for recording their names as legal heirs of a deceased in the revenue records such as 7/12 extract, Mutation Entries, and 8A Property extract. The Revenue Department has initiated this online facility to the citizens from 24th May 2021 under the name – ‘Inheritance and Complaint Form…
Local Body Taxes meaning and applicability – LBT is Local Body Tax levied by the Pune & Pimpri Chinchwad Local Government Bodies such as Municipal Corporation, Municipal Council, Grampanchayat, etc. The ‘LBT’ is applicable on the property transfer by way of Gift Deed, Agreement to Sell, Sale Deed, Deed of Assignment, etc. in Pune and…