Property buyers in India may be liable for previous owners' unpaid maintenance dues, depending on state laws, society bye-laws, and sale deed clauses. Obtaining a No Dues Certificate and including an indemnity clause in the sale agreement are crucial steps to avoid post-purchase financial liabilities.
Supreme Court ruled a property buyer is not criminally liable for a forged Will if unaware of the forgery. Possession with registered title offers protection against automatic eviction, requiring civil court decrees. Buyers can pursue civil/criminal remedies against fraudulent sellers.
The Mumbai Income Tax Appellate Tribunal (ITAT) ruled that a property buyer is not liable for short TDS deduction if the seller regularizes their PAN. The case involved a Rs 1.9 crore flat purchase where the buyer deducted TDS on her share, but the tax department sought higher TDS due to an inoperative PAN. ITAT deleted the demand, citing CBDT circulars and the seller's tax compliance. Experts advise buyers to be aware of TDS obligations, especially for non-resident sellers or joint property purchases.
Buyers of Indian property worth ₹50 lakh or more must deduct 1% TDS under Section 194-IA, depositing it with the government to avoid interest and penalties.
A bill in Russia's State Duma aims to protect property buyers by ensuring sellers fully refund payments if a deal is invalidated. This follows recent anti-money laundering enhancements and a rejected bill that proposed a seven-day freeze on buyer funds.
