Results for #applicable
Legal
#settlement#applicable#stampduty
If there is a family settlement, is stamp duty applicable on the same? This is in Rajasthan. Also, of the stamp duty is applicable can it be minimized?
If there is a family settlement, is stamp duty applicable on the same? This is in Rajasthan. Also, of the stamp duty is applicable can it be minimized?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the family settlement records transfer of property from name of one person to another then the same would attract stamp duty. If the properties had been acquired from joint family funds then the stamp duty can be minimized on that account.
Taxes & Duties
#applicable#registration#purchasing#flat#stampduty
What would be the applicable registration fees and stamp duty while purchasing a flat?
What would be the applicable registration fees and stamp duty while purchasing a flat?
Answered on November 08, 2017
Stampy Duty and Registeration fees will depend on the stamp duty provisions of each State. For Maharashtra, the rates are as below:
a) The stamp duty rate will be 5% of the agreement value or market value (computed as per the ready reckoner rate of the area), whichever is higher
b) Registration fees will be 1% on the market value or the agreement C72value but restricted to Rs. 30,000. (View more)
a) The stamp duty rate will be 5% of the agreement value or market value (computed as per the ready reckoner rate of the area), whichever is higher
b) Registration fees will be 1% on the market value or the agreement C72value but restricted to Rs. 30,000. (View more)
Taxes & Duties
#flat#under-construction#property#landlord#builder
I recently purchased a flat which is in an under-construction property. The landlord and builder own half the flats each as per the JDA. The flat I am purchasing is from the landlord. He is not going to pay VAT and ST on this transaction, maybe he will pay capital gains tax. In such a situation, will the new law of cutting 1% TDS be applicable to me?
I recently purchased a flat which is in an under-construction property. The landlord and builder own half the flats each as per the JDA. The flat I am purchasing is from the landlord. He is not going to pay VAT and ST on this transaction, maybe he will pay capital gains tax. In such a situation, will the new law of cutting 1% TDS be applicable to me?
Answered on November 08, 2017
Yes, the provision of section 194IA of the Income Tax Act will be applicable in this case and accordingly if the consideration to be paid is 50 lakhs or above then TDS @ 1% is required to be deducted.
Legal
#bangalore#construction#delhi#builder#applicable
I have purchased an apartment in Bangalore, which is still under construction. Recently, Delhi High Court ordered Service Tax Exemption for under construction properties. When I asked my builder regarding the same, he said it is not applicable to the properties in Bangalore so I asked him for a justification which he will give me soon. I want your opinion in knowing if this is possible.
I have purchased an apartment in Bangalore, which is still under construction. Recently, Delhi High Court ordered Service Tax Exemption for under construction properties. When I asked my builder regarding the same, he said it is not applicable to the properties in Bangalore so I asked him for a justification which he will give me soon. I want your opinion in knowing if this is possible.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The order passed by the Delhi High Court would not apply to properties located in Bangalore, unless similar orders are passed by the Kartanaka High Court or the Supreme Court for properties located in Bangalore.
Taxes & Duties
#flat#mumbai#builder#cost#construction
I had bought a flat in Mumbai for which the builder is asking for service tax on the cost of construction. I wanted to know if this service tax is applicable on us and if yes, what is the % of amount that we will have to pay?
I had bought a flat in Mumbai for which the builder is asking for service tax on the cost of construction. I wanted to know if this service tax is applicable on us and if yes, what is the % of amount that we will have to pay?
Answered on November 08, 2017
Yes, Service Tax is applicable on the service portion in the execution of works contract. Currently, the abated rate of service tax on contract value is 4.5%
Legal
#underconstruction#flat#builder#applicable
I need to know more about Service tax rate on underconstruction flat. Yesterday I received a mail from my builder as- ' Dear Sir, this is to inform you that Service tax rate is going to increase from current 3.09% to 4.944% w.e.f. 1.7.2012. So, the difference rate will be applicable to you on your balance amount which you will be paying on or after 1.7.2012.' I wanted to confirm whether there is any such change in the Service tax rate.
I need to know more about Service tax rate on underconstruction flat. Yesterday I received a mail from my builder as- ' Dear Sir, this is to inform you that Service tax rate is going to increase from current 3.09% to 4.944% w.e.f. 1.7.2012. So, the difference rate will be applicable to you on your balance amount which you will be paying on or after 1.7.2012.' I wanted to confirm whether there is any such change in the Service tax rate.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The present question is irrelevant in the light of appilcability of GST with effect from 1st July 2017.
Legal
#constructed#flat#july#possession#applicable
Dear Sir, I had bought a 90% constructed flat in Thane in July, 2010 and I got its possession in October, 2010. I would like to know the service tax applicable to my flat.
Dear Sir, I had bought a 90% constructed flat in Thane in July, 2010 and I got its possession in October, 2010. I would like to know the service tax applicable to my flat.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Service Tax would be 1% of the Agreement value and particularly since the building / flat was not fully constructed as on July 2010.
Society Matters
#flat#society#charges#maintenance#applicable
My flat is vacant since last one year. Our society charges Tanker charges in the maintenance bill. Pls. let me know whether tanker charges are applicable for vacant flats
My flat is vacant since last one year. Our society charges Tanker charges in the maintenance bill. Pls. let me know whether tanker charges are applicable for vacant flats
Answered on November 08, 2017
Yes, they are applicable even for vacant flats
Regulations
#fsi#policy#applicable#mumbai#city
What is Mhada FSI policy applicable in Mumbai city? Is it true we can get more than 2 FSI there?
What is Mhada FSI policy applicable in Mumbai city? Is it true we can get more than 2 FSI there?
Answered on November 08, 2017
The MHADA Buildings as per DCR 33(5) eligible for aditional FSI. Recently the Govt of Maharastra brought in Revised Noms on 3rd july 2017 wherein the Fsi is Proposeed to be up to 4.00 for Plots more than 4000 smts and on roads more than 18mtrs. And up to 3.00 for plots less than 4000 smts.
Taxes & Duties
#flat#mhada#mumbai#possession#expected
My wife won a flat in a lottery by MHADA in Mumbai. This was in 05/2012. The possession is expected to be given to us soon, 95% of the payment is done. My questions is that will the TDS @1% be applicable after the final payment or otherwise?
My wife won a flat in a lottery by MHADA in Mumbai. This was in 05/2012. The possession is expected to be given to us soon, 95% of the payment is done. My questions is that will the TDS @1% be applicable after the final payment or otherwise?
Answered on November 08, 2017
As per section 194IA of Income Tax Act, the transferee is required to deduct TDS @ 1% at the time of credit of sum to the account of the transferor or at the time of payment of such sum if the total consideration is 50 lakhs or above. The said section was introduced w.e.f 1st June, 2013. Accordingly any payment made by you on or after 1st June, 2013 and if your purchase consideration is more th...
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