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Taxes & Duties #property#july#letter#purchase
I bought a property after July 2010. I have received a letter from the Central Govrnment asking for service tax which is due on this property. Is the service tax due on such a purchase?
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Harsh Bhuta, Chartered Accountant  

37 Answered

Answered on November 08, 2017
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    • The liablity to pay service tax is on the service provideer (builder in this case). Service tax department cannot raise demand on the buyer of the property to pay service tax on behalf of the builder.
    Regulations #permitted#procedure
    I want to join two flats and make it into one, will I be permitted to do so? If yes, then what procedure needs to be followed?
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    Yomesh Rao, Director at YMS Consultants   

    47 Answered

    Answered on November 08, 2017
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    • Yes , amalgamation of 2 Flats is Permissible subject to Pakring and other Requirements, As per Latest Ease of doing Business Circular BMC has brought in a Circular in august 2016 wherein on submission of requisite Docuemnts the permission should be granted in a Day Theoritically but it has become easier and faster for sure.
    Purchase & Sales #flat#mumbai#view#price#tenants
    I wish to invest in a 1 BHK flat in Mumbai. Which areas are good to invest in from the points of view of price apreciation and ease of finding tenants? I have a 5-year horizon.
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    Rachanaa Group  

    129 Answered

    Answered on November 08, 2017
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    • Areas such as borivali,kandivali, malad, mulund, dahisar, where the property prices are still low compared to other places south, are good places to invest. Being smaller apartments, chances of them going on a lease are also very high.
    RERA #promoter#payment#instalments#buyer#maha
    What is the limit on interest that can be levied by the promoter in case of default in payment of any instalments by buyer under Maha RERA
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    Aahwaana Ramesh

    40 Answered

    Answered on November 08, 2017
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    • The rate of interest payable by the promoters to the allottees or by the allottees to the promoters, as the case may be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two percent: Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from t...
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