| Question And Answer | |
|---|---|
| Subject: | purchase of a property —dues of seller |
| Category: | General Law, Income-Tax |
| Querist: | BS |
| Answered by: | Research Team |
| Tags: | Capital Gains, purchase of property, Recovery of tax, ta due of seller, verification of title |
| Date: | November 20, 2021 |
How can a buyer ascertain whether a seller is having tax dues ?
what is the liability of a buyer who has bought property from a seller having tax dues ?
In the portal details of tax assessment is available . Chartered Accountant of the seller can give a certificate after verifying the details and assessment records . If it is a flat in the Society , the society can give certificate stating that there is no attachment or recovery notice against the said flat by any Government Authorities and financial institutions etc .Buyer can take inspection of records and lawyer can also verify from the competent Authority whether title is clear or proper stamp duty was paid and registered etc. Each case has to be decided on facts . The tax Consultant can guide the assessee properly after verifying the documents and facts .