Free Immovable Property NOC Statement Template PDF India

About this agreement

Title: Statement of Transfer of Immovable Property for Obtaining No-Objection Certificate from Appropriate Authority, Income-Tax Department Format

Struggling to obtain a No-Objection Certificate (NOC) from the Income-Tax Department for your immovable property transfer? Secure our professional Statement of Transfer of Immovable Property for Obtaining No-Objection Certificate from Appropriate Authority, Income-Tax Department Format – a ready-to-use, customizable legal template in PDF or Word format, tailored for Indian property transactions.

What is the Statement of Transfer of Immovable Property for Obtaining No-Objection Certificate from Appropriate Authority, Income-Tax Department?

This essential document is a detailed declaration submitted by the property seller (transferor) to the Income-Tax Department. It outlines the particulars of the immovable property transfer, enabling the authority to verify tax compliance and issue the NOC. Under Section 230A of the Income Tax Act, 1961, this statement is mandatory for registering sale deeds of immovable property valued above certain thresholds, ensuring no outstanding tax liabilities like capital gains tax impede the transaction. It's a critical step in real estate deals across India to prevent legal complications during property registration.

Why is it Important?

The Statement of Transfer of Immovable Property Format is vital for seamless property transfers. Without the NOC, sub-registrars refuse to register the sale deed, leading to delays, financial losses, or deal cancellations. It protects buyers from inheriting tax dues, confirms the seller's tax status, and meets statutory requirements from the Income-Tax Department. Using a standardized, court-compliant format minimizes rejection risks, saves time, and ensures all necessary details are covered, making it indispensable for high-value property sales in India.

Key Elements of the Statement of Transfer Format

Our comprehensive legal template includes all crucial sections:

Parties' Details: Name, PAN, Aadhaar, address of transferor and transferee.
Property Particulars: Location, survey number, area, built-up space, valuation.
Transfer Information: Date of sale agreement, consideration amount, payment mode.
Tax Compliance Declaration: Affirmation of no dues, capital gains computation, TDS details.
Supporting Annexures: Draft sale deed, property valuation report, encumbrance certificate.
Verification Clause: Signed declaration under oath, with date and place.

This structure aligns with Income-Tax Department guidelines, making it ready to use or customizable.

Who Should Use This Format?

Ideal for:

Individual property owners selling houses, plots, or apartments.
Real estate developers and investors in commercial transfers.
NRI property sellers needing tax clearance.
Lawyers, CAs, and notaries handling registrations in India.

Common scenarios: Residential sales, land deals, gift deeds, or partition agreements requiring Income Tax NOC.

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Customization and Legal Advice Note

This customizable legal template serves as a strong starting point but should be tailored to your specifics. Always consult a qualified Income Tax practitioner or lawyer for advice, as laws may vary by state or case. Not legal advice. Discover related resources: Property Sale Agreement Format, Capital Gains Statement Sample, Income Tax NOC Application Template, all available for free download in India.

STATEMENT OF TRANSFER OF IMMOVABLE PROPERTY FOR OBTAINING NO-OBJECTION CERTIFICATE FROM APPROPRIATE AUTHORITY, INCOME-TAX DEPARTMENT

Non-Judicial

Form No. 37-1

Statement of transfer of immovable property to be furnished to the appropriate authority under section 269UC

I/We........................................................................................................... [name(s) and addresses) of the transferor(s]

intend to transfer the immovable property located at ............................................... to ...................................................... ..................................................................................................................... [name(s) and addresses) of the transferee(s)]

The total apparent consideration for the transfer of the above property is.................. (in words)

[............................]. The particulars of the agreement for transfer of the said (in figures) property are furnished in the annexure to the statement.

Verification

In my/our opinion and to the best of my/our knowledge and information, the particulars furnished above and in the Annexure hereto are true and correct.

Transferor(s) Transferee(s)

1. .................................... .........................

S/o, D/o, W/o S/o, D/o, W/o

2 . .................................. .......................

S/o, D/o, W/o S/o, D/o, W/o

3. .................................... .........................

S/o, D/o, W/o S/o, D/o, W/o

Note: Any change in the address of the transferor(s) or the transferees) should be communicated in writing immediately to the appropriate authority to whom this statement of transfer has been furnished.

ANNEXURE

Particulars of the agreement for transfer of immovable property

1. Particulars of the transferor(s):-

(i) Name(s) ..............

(ii) Father's name ..............

(iii) Present address(es) ...............

(a) Lane/Street No., with name ...............

(b) Locality ...............

(c) City/Town with pin code ...............

(d) District ................

(e) State ...............

(f)Telephone No., if any ...............

(iv) Permanent address(ies) ?...........

(a) Lane/Street No. with name ...............

(b) Locality ...............

(c) City/Town with pin code ...............

(d) State ...............

(e) Telephone No., if any ?............

(v) PAN/Ward/City/District where assessed to income-tax ..............

2. Particulars of the transferee(s):-

(i)Name(s) ............

(ii) Father's name .............

(iii) Present address(es) ..............

Lane/Street No., with name ...............

(b) Locality ...............

(c) City/Town with pin code ...............

(d) District ...............

(e) Telephone No., if any ...............

(iv) Permanent address(es) .............

(a) Lane/Street No., with name .............

(b) Locality ...............

(c) City/Town with pin code ...............

(d) District ...............

(e) Telephone No., if any ...............

(v) PAN/Ward/City/District where assessed to income-tax ...............

3. Persons in occupation of the property sought to be transferred and details thereof-.-

.....................................................................................................

.....................................................?............................................

..............................................??...?..........................................

4. Persons interested in the property and in the consideration specifying their shares and basis thereof:-

(i) ....................................................................................................

(ii) ....................................................................................................

(iii) ..................................................................................................

5. Mode of acquisition of the property by the transferor.-

Please state whether the property has been constructed/purchased/ acquired on distribution of assets on the total or partial partition of HUF/under a gift or will/by acquisition, inheritance or devolution/on any distribution of assets on the dissolution of firm, body of individuals or other association of persons/on any distribution of assets an the liquidation of a company/under a transfer to a revocable or irrevocable trust/under any transfer by a shareholder in a scheme of amalgamation;
Cost of acquisition of the property by the transferor or by the previous owner if the prop" has been acquired under other modes mentioned above;
Date of acquisition of property by the transferor.

6. Date of written agreement for transfer of the said property (A copy of the agreement may please be enclosed).-

7. Details of the property sought to be transferred:-

Description, location and other particulars of the property sought to be transferred.

(i) Land;

(ii) Building(s);

(iii) Plant and machinery;

(iv) Furniture and fixtures attached;

(v) Other assets.

8. Nature of interest or right proposed to be transferred, please indicate whether the property consists of

(i) ownership, or

(ii) membership of co-operative society, or association of persons, or a company (Please indicate the number of shares and their value), or

(iii) lease, or

(iv) right to possession taken or retained in part performance of a contract of the nature referred to in section 53A of the Transfer of Property Act, 1882 or any agreement or arrangement of whatever nature.

9. Particulars of consideration for transfer:-

(i) If the transfer is by sale, please state the consideration as per the agreement for transfer of various assets:

................................................................................................

..............??............................................................................

.................................................................?............................

...........................................................??...............................

(ii) If the transfer is by way of exchange for a thing(s), please state the price that such thing(s) would fetch on sale in the open market on the date of agreement for transfer;

(iii) If the transfer is by way of exchange for a thing(s) and a sum of money, please state the price that such thing(s) would fetch on sale in the open market on the date of agreement for transfer and such sum of money;

(iv) If the transfer is by way of lease, please state:

the period of lease,
the amount of premium,
the frequency of premium to be paid,

(d) if the lease is in consideration of rent only, please state the aggregate of the money(s) payable by way of rent; and the amounts for services or things forming part of, or constituting, the rent,

(e) if the lease is in consideration for premium and rent, please state the aggregate of the amount of the premium, the rent and the amounts for services, or things forming part of, or constituting, the rent.

(v) If the whole or a part of the consideration for transfer is payable on any date failing after the date of agreement for transfer, please state:-

(a) date of agreement for transfer of the property,

(b) date(s) on which consideration is payable,

transfer as per rule 48-1.

(vi) In a case not covered by items (i) to (v), please state the amount of consideration:-

10. Address of the Registrar where the agreement is required to be registered:-

........................ .................

Signature Signature

Transferor(s) Transferee(s)

Notes

1. Where the space for furnishing the details in the Form is not adequate, separate sheets may be attached.

2. The statement in the Annexure can be either in Hindi or in English.

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Important Guidelines

Guideline for Drafting Statement of Transfer of Immovable Property for Obtaining No-Objection Certificate (NOC) from Income-Tax Department:

Usage: The Statement of Transfer of Immovable Property is used when an individual intends to transfer immovable property and seeks a No-Objection Certificate (NOC) from the Income-Tax Department, as required by tax regulations. This document is crucial for property transactions and ensures compliance with tax laws. Here are key points to consider:

Property Details: Begin with a detailed description of the property, including its address, dimensions, and identifying features.

Transferor and Transferee: Clearly state the names, addresses, and PAN (Permanent Account Number) details of both the transferor (seller) and transferee (buyer).

Transaction Details: Specify the nature of the transaction, such as sale, gift, exchange, or lease, along with the date and terms of the transfer.

Consideration Amount: Clearly mention the sale consideration amount, the mode of payment, and whether it aligns with the property's fair market value.

NOC Request: Express the intent to obtain an NOC from the Income-Tax Department and any related details.

Common Mistakes to Avoid:

Inaccurate Property Details: Ensure that property descriptions are complete and precise. Missing PAN Information: Provide accurate PAN details for both parties. Inadequate Consideration: Ensure that the transaction's declared value aligns with market rates. Lack of NOC Request: Clearly state the purpose of the document and the need for an NOC. Failing to Follow Tax Guidelines: Consult tax authorities or professionals to ensure compliance with tax laws and regulations. Always consult with legal and tax professionals when drafting this statement to ensure accuracy, compliance, and the successful transfer of immovable property.

Frequently asked questions

What is the purpose of the Statement of Transfer of Immovable Property for obtaining No-Objection Certificate from Income Tax Department?→

This legal document in India is used by property owners to declare details of immovable property transfer and seek NOC from the Income Tax Department under Section 230A to ensure no tax dues before registration.

Is this Statement valid across India for IT Department NOC?→

Yes, this format is recognized by Income Tax authorities in India for obtaining NOC prior to immovable property transfers, but verify with local Assessing Officer for specific requirements.

Do I need to pay stamp duty on this Statement of Transfer?→

No stamp duty is typically required on this statement in India as it is not a conveyance deed; it serves only as an affidavit for NOC from Income Tax Department.

In what format can I download this agreement?→

Download this customizable legal agreement in both PDF and editable Word formats for easy use in India.

Can I edit or customize this Statement before submission?→

Yes, this document is fully customizable; edit details like property description, parties involved, and tax details before notarizing and submitting to the Income Tax Department in India.

Who should use this Statement and when?→

Property sellers or transferors in India should use this when transferring immovable property valued over certain limits to obtain mandatory NOC from Income Tax authorities confirming no arrears.