Sale Deed

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Overview 

A sale deed is a legal document that transfers ownership of a property from the seller to the buyer. It is a crucial document in real estate transactions, outlining the terms and conditions of the sale. A properly executed sale deed provides legal certainty to both parties and ensures the smooth transfer of property rights.

Procedure for sale deed

The sale deed process typically involves the following steps:

Negotiation and Agreement
The buyer and seller negotiate the terms of the sale, including the purchase price, payment schedule, and any other relevant conditions.
Drafting the Sale Deed
Once the terms are agreed upon, a sale deed is drafted. This document should accurately reflect the terms of the agreement and comply with legal requirements.
Execution and Signing
Both parties, along with witnesses, sign the sale deed. It is essential to ensure that all signatures are obtained in the presence of witnesses to validate the document.
Stamp Duty Payment
Stamp duty must be paid on the sale deed as per the applicable rates set by the state government. The amount of stamp duty varies depending on factors such as the property value and location.
Registration
The sale deed must be registered with the appropriate Sub-Registrar of Assurances within the jurisdiction where the property is located. Registration provides legal recognition to the transaction and ensures its enforceability.
Handing Over Possession
Once the sale deed is registered and all payments are made, possession of the property is handed over to the buyer as per the terms of the agreement.

Required Documents for sale deed

Several documents are required for the preparation and execution of a sale deed. These include

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Frequently Asked Questions

A non-resident taxable person means any person who occasionally undertakes transactions involving supply of goods and/or services whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.

Any business entity or person is required to obtain GST registration within thirty (30) days from the date of becoming liable for registration. A Casual Taxable person and a non-resident taxable person are required to apply for registration at least 5 days prior to commencement of business.

Registration under the GST Act is required if the aggregate annual turnover exceeds Rs. 20,00,000/- (Rupees Twenty Lakhs). However, the threshold for registration is Rs. 10,00,000/- (Rupees Ten Lakhs) in case the place of business is situated in Arunachal Pradesh, Assam, Himachal Pradesh, Jammu & Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, or Uttarakhand.

Further, regardless of the turnover, GST registration is mandatory in the following cases:

  • If the person/ business makes Inter-State Supplies
  • If the person/ businesssupplies goods through an E-commerce portal
  • If the person/ business is:
    • Service Provider
    • Agent for Registered Principal
    • Liable to Pay Reverse Charge
    • Non-resident Taxable Person
    • Casual Taxable Person
    • Input Service Distributor
    • TDS/TCS Deductor
    • E-commerce Operator
    • An online data access and retrieval service provider

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