How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Wallstreet Esq. Your Own Question

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 570
Experience:  10 years experience
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

NA - 112

Customer Question

hi i have today signed an "aggrement to sell " for residential land in gurgaon for 2 crore rs.
payment terms are
i have recvd immidiate payment for rs 75 lacs and bal payment of rs 1.25 crores in may 2013.

i am purchasing a builder floor in south ex part 2 new delhi - for rs 2.5 crore (i will be signing an aggrement in the next 15 days )
i will be paying the amount i am receiving from the sale of my land -as above- as and when i recive the same ie 75 lacs immidiately and 1.25 crores in may 13 and the bal i will remit from dubai (i am a nri) at the time of registry in mid 2014 .

my questions are as follows.
1. if i am paying for my flat - as and when i am receiving my payment for the land sale- am i required to open a capital gain a/c or i can receive the money in my nro account and pay from same to the seller of the flat i am buying.
2 the seller of the flat is also asking me to pay on his behalf directly to the builder of the flats. can i pay directly to the builder instead of the developer if he instructs me in writing to do that ??
3. pl note that the payment for the sale of my land is being received in two financial years ie 2012-2013 and 2013-2014.
but the payment to the develper /builder for the flat i am purchasing is also being made in the same year infact immidiately on receipt of the payment.

pl advice if the above is ok by tax lawa and do i need to open a capital gain a/c or not.

best regards
vijay rampal XXX@XXXXXX.XXX
Submitted: 1 year ago.
Category: Tax
Expert:  Lindie-mod replied 1 year ago.
Hi,
I'm a moderator for this topic. I've been working hard to find a Professional to assist you with your Tax, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Lindie
Customer: replied 1 year ago.


yes i can wait for another day . but if you are still not able to find an expert and answer my question can i request for refund of the money paid .

Expert:  Lindie-mod replied 1 year ago.
Hi

Thank you for your continued patience. We will continue the search for a Professional for you.

Lindie
Customer: replied 1 year ago.


dear lindie you didnt reply to second part of my question.


 


will i get a full refund if you are not able to find an expert in the next 24 hours ?????

Expert:  Lindie-mod replied 1 year ago.
Hello,
Sorry, if you don't get an answer, we can either return your good faith deposit to the original funding source or we can leave your deposit on your account here for future questions.

I will continue to search for a Professional to answer your question.

Thank you

Lindie

Expert:  Lindie-mod replied 1 year ago.
Hello,
I apologize as we have not yet been able to find another Professional to assist you. Would you like me to continue to search for someone to assist you or would you like for me to close your question at this time?

Thank you for your patience,
Lindie
Customer: replied 1 year ago.

pl close my question and REFUND THE MONEY PAID BY ME.


 


PL CONFIRM

Customer: replied 1 year ago.

PL CANCEL MY QUESTION AND REFUND THE MONEY PAID BY ME


 


PL CONFIRM

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
< Last | Next >
  • http://ww2.justanswer.com/uploads/KU/KUMI95/2013-9-30_195031_kumar.64x64.jpg Wallstreet Esq.'s Avatar

    Wallstreet Esq.

    Tax Attorney

    Satisfied Customers:

    570
    10 years experience
  • http://ww2.justanswer.com/uploads/CU/Cuttinggirl/2011-10-29_03719_wcrop2.64x64.jpg Wendy Reed's Avatar

    Wendy Reed

    Enrolled Agent

    Satisfied Customers:

    3052
    15+ years tax preparation and tax advice.
  • http://ww2.justanswer.com/uploads/CATax/2009-08-04_204548_Mark.jpg Mark D's Avatar

    Mark D

    Enrolled Agent

    Satisfied Customers:

    985
    MBA, EA, Specializing in Business and Individual Tax Returns and Issues
  • http://ww2.justanswer.com/uploads/IN/insearchoftheanswer/2013-8-16_0233_attorney.64x64.jpg Richard's Avatar

    Richard

    Tax Attorney

    Satisfied Customers:

    3229
    29 years of experience as a tax, real estate, and business attorney.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    6121
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JG/jgordosea/2012-6-7_43138_GordosVeritas.64x64.jpg jgordosea's Avatar

    jgordosea

    Enrolled Agent

    Satisfied Customers:

    2783
    I've prepared all types of taxes since 1987.
  • http://ww2.justanswer.com/uploads/OZ/ozaukeecpa/2012-6-7_193219_Picture1croppedandshrunk.64x64.jpg MequonCPA's Avatar

    MequonCPA

    Certified Public Accountant (CPA)

    Satisfied Customers:

    2231
    CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.