Published On : Thu, May 8th, 2014

Proper Professional Advice Must Before Entering in Real Estate Transaction – CA. Narayan Demble

image003 (4)Nagpur News:

There are many confusions and dilemma in taxation & proper guidance is required in various issues and decision making process of real estate transactions said CA. Narayan Demble, Senior Chartered Accountant from city while addressing as a Chief Guest in Half Day Seminar on Do’s & Dont’s- Real Estate Transaction Professional’s Perspective. He further said that litigations & disputes is integral part of real estate transactions, hence proper professional advice is a pre condition before entering into any real estate transaction. He said that with recent amendments, Government’s objective was to rationalize the taxation system as well as procedural aspects but it has made it more complex and tax planning has become very difficult. He cited examples of amendments in the Income Tax Act with respect to changes in section 50c, TDS on property transaction etc. He complimented Nagpur Branch for organizing programmes of professional importance at the relevant time.

Earlier Chairman CA Ashwini Agrawal in his welcome address said that buying a home or real estate is one of the important decisions that any person makes and in India is specifically coupled with difficulties due to a combination of factors. He further said that before making any such decision, the client invariably consults with his Chartered Accountant for various issues that are not necessarily only taxation or accounting related. He added that knowledge of pertinent details and processes that is involved before, during and after a home or real estate purchase is important. He also added that in addition to these, knowledge of some equally important issues that can help Chartered Accountants with the various legal, tax and other technicalities for buying a real estate is also important as meticulous planning at the investment stage itself could avoid hassles later. He further said that deliberations with persons involved with real estate industry will help CA’s to understand in better way about the requirements of clients to help them to deliver quality services in best possible manner. He requested members to participate in the events of the Branch.

In technical session Adv. Sandeep Shastri guided the member on Precautions to be taken while investing in Real Estate and Shri Gaurav Agrawala deliberated on CA’s Role in Taxation / Wealth Maximization/ Documents/ Verification and Finance. Both the speakers successfully resolved the issues of members present over the subject.

CA. Kirti Agrawal, Vice Chairperson of the Branch co-ordinated the programme.CA. Swapnil Ghate, Secretary proposed the formal vote of thanks and CA. Suren Duragkar, CPE Chairman co-ordinated the technical session.

Prominently present on the occasion were CA. Satnamdas Gandhi, CA. Paresh Tank, CA. V.P. Jaipurkar, CA. Shripal Kothari, CA. Nitin Kuralkar and more than 1oo participants.