Friday 3rd September
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Service tax on on-going works contracts entered into prior to 01.06.2007
Circular No. 128/10/2010-ST Summary:- In case a contract where the provision of service commenced prior to 01.06.2007 and any payment of service tax was made under the respective taxable service before 01.06.2007 – No portion of that contract would be eligible... (Continue reading)
Car Parking
By Chhaya Khamkar Types and Definition of parking Stilt - A pair of poles with foot-rests, enabling the user to walk with feet at a distance above the ground; piles or posts on which a building stands. Open - Means an area forming an... (Continue reading)
Demolition of Illegal Constructions
In a recent case of a writ petition filed against a case of flat owners of an illegally constructed building seeking respite from the BMC’s orders, the divison Bench of the Bombay HC held that in such matters it is... (Continue reading)
Details of Title deeds of the properties in Maharashtra to be online soon
Registration and Stamps department across Maharashtra plans to put the details and records of the title deeds and documents of all the registered commercial and residential properties, now online, for the convenience of the citizens. The State Chief information Commissioner... (Continue reading)
For a redevelopment, approval of 70% tenants is binding upon the other members,
In a recent ruling, the Bombay High Court has stated that the issue of minority of tenants can not be an obstacle for redeveloping a property if minimum 70% of the tenants are ready for the same. The judgement came against... (Continue reading)
Developer can be fined if delays the process of handing over the possession
MSCC, The Maharashtra State Consumer Commission, has recently directed a developer to pay a fine of rupees 20 Lakh at the rate of Rs.2,000 per day for a delay in handing over possession of a shop premises to it’s purchaser. The... (Continue reading)
Section 50C of IT Act In Respect of Land and Buildings Transactions
Provisions of Section 50C of Income Tax Act, 1961 In Respect of Land and Buildings Transactions Section 50C containing very harsh and controversial provisions is one more attempt by the Government to bring to revenue the unaccounted portion of the property... (Continue reading)
Budget Amendments to Service Tax and VAT
By Vimal Punmiya, FCA SERVICE TAX By the Finance Act, 2010 the Government has amended the definition of Commercial or Industrial Construction Service [Section 65 (25b) read with Section 65 (105) (zzq)] and construction of Residential Complex [Section 65... (Continue reading)
Recent Development in Service Tax and VAT in Real Estate
Written on 10 Jun, 2010 at 14:14 in Income Tax, Others, Real Estate News | viewed 69 times | 5 Comments
By Kantilal Jain, FCA In the budget for 2010 both Central and State Governments have made certain amendments to levy tax on sale of immovable property under construction to enhance their revenue and to overcome certain judicial pronouncements. An attempt is... (Continue reading)
Deduction under Section 10(13A) for House Rent allowance
House rent allowance (HRA) is received by the salaried class. A deduction is permissible under Section 10(13A) of the Income Tax Act, in accordance with Rule 2A of the Income Tax Rules. You can claim exemption on your HRA under... (Continue reading)
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(0.00 out of 5) - HC: Minority of Tenants Cannot Oppose Redevelopment (0.00 out of 5)
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- Transfer of leased premises sans business ends taxpayer’s right in capital asset (0.00 out of 5)
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- Auction of Non-Existent Flats (0.00 out of 5)
- Foreign nationals can keep 100% of Post-Tax Salaries (0.00 out of 5)
- Multiple Registration of Property Documents (0.00 out of 5)
- An amendment to DC Regulation 33 (9) (0.00 out of 5)
- Act Governing Real Estate - 0 votes
- HC: Minority of Tenants Cannot Oppose Redevelopment - 0 votes
- HC upholds 1980 land ceiling verdict - 0 votes
- Transfer of leased premises sans business ends taxpayer’s right in capital asset - 0 votes
- Gift of Immovable Property or any other property - 0 votes
- The Builder is obliged to give the Occupation Certificate - 0 votes
- Auction of Non-Existent Flats - 0 votes
- Foreign nationals can keep 100% of Post-Tax Salaries - 0 votes
- Multiple Registration of Property Documents - 0 votes
- An amendment to DC Regulation 33 (9) - 0 votes