Results for #liable
Society Matters
#reside#society#mumbai#liable
I reside on a ground floor in a Coperative Housing Society in Mumbai. Am i liable to pay lift expenses?
I reside on a ground floor in a Coperative Housing Society in Mumbai. Am i liable to pay lift expenses?
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Answered on November 08, 2017
Yes, all common expenses have to be borne proportionately between all the members of the society
Taxes & Duties
#vat#paid#agreement#builder#flat
I have a doubt on the VAT to be paid on an agreement value. My builder is asking me to pay 5% VAT on the agreement value for a flat bought in June 2008. Please suggest as to who is liable to pay the VAT and how much should it ideally be?
I have a doubt on the VAT to be paid on an agreement value. My builder is asking me to pay 5% VAT on the agreement value for a flat bought in June 2008. Please suggest as to who is liable to pay the VAT and how much should it ideally be?
Answered on November 08, 2017
In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in June 2008. There are various methods for arriving at the taxable value of transfer of property in goods during construction.
Libality to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
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Legal
#flat#possession#paid#payment#liable
I won a flat that I purchased in 2010 and got the possession by the end of the year. I paid the 1% service tax on the flat at the time of the payment, but I did not pay any service tax as there was a case that was going on, about the percentage of the service tax on homes. Am I liable to pay this tax? If yes, how much ?
I won a flat that I purchased in 2010 and got the possession by the end of the year. I paid the 1% service tax on the flat at the time of the payment, but I did not pay any service tax as there was a case that was going on, about the percentage of the service tax on homes. Am I liable to pay this tax? If yes, how much ?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You would have to pay service tax on the value of the flat as mentioned in your agreement. However, the same would also depend on the terms relating to payment of service tax and as contained in the Agreement.
Legal
#flat#builder#liable#owner
I bought a 2 BHK flat in Andheri west, I recently found out that this flat was sold to someone else for the last 5 years. What can I do about this? Is the builder liable to pay the other owner?
I bought a 2 BHK flat in Andheri west, I recently found out that this flat was sold to someone else for the last 5 years. What can I do about this? Is the builder liable to pay the other owner?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
If the flat has been sold to someone before you vide a registered agreement then such person would have a prior claim on the flat then you and you would be entitled to claim refund and damages from the developer.
Taxes & Duties
#flat#paid#registered#agreement#builder
I bought a flat in NOV- 2009 and paid the registered amount. This falls before march 2010. The agreement of sale provided by the builder does not involve any VAT mentioned. Am I still liable to pay the VAT? If yes, how much? The builder has also filed a civil case and is charging 2.17% of the price of the flat from all the owners. What can be done?
I bought a flat in NOV- 2009 and paid the registered amount. This falls before march 2010. The agreement of sale provided by the builder does not involve any VAT mentioned. Am I still liable to pay the VAT? If yes, how much? The builder has also filed a civil case and is charging 2.17% of the price of the flat from all the owners. What can be done?
Answered on November 08, 2017
In Maharashtra, VAT on sale of underconstructed property brought into effect from June 2006. Hence, builder would be liable to pay VAT on agreement to sale effected in Nov 2009. There are various methods for arriving at the taxable value of transfer of property in goods during construction.
Liability to pay VAT by flat buyer to the builder would be dependent on the contractual arrangement betw...
(View more)
Taxes & Duties
#flat#save#taxes#consideration#loan
I had one flat which I sold and to save taxes, I purchased another flat partially from the sales consideration received and partially by taking loan. Now, if I sell this flat within period of 3 years of purchase then on what amount am I liable to pay taxes?
I had one flat which I sold and to save taxes, I purchased another flat partially from the sales consideration received and partially by taking loan. Now, if I sell this flat within period of 3 years of purchase then on what amount am I liable to pay taxes?
Answered on November 08, 2017
In order to save tax on capital gains arising out of sale of residential flat, expemtion can be claimed under section 54 of Income Tax Act i.e selling of one residential property and buying another residential property within the time limit specified under section 54 of the Income Tax Act. The new residential property so purchased should be held by you for subsequent period of 3 years. In case ...
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Redevelopment
#brokerage#builder#liable#charges#tenants
Is the builder liable to pay for the shifting and broker charges each time if the existing tenants have to shift more than once during the period of redevelopment?
Is the builder liable to pay for the shifting and broker charges each time if the existing tenants have to shift more than once during the period of redevelopment?
Answered on November 08, 2017
It is not mandatory to give shifting charges but normal practice is to give one time brokerage and shifting charge.
