NEW DELHI: The CBIC has stated that from January 1, no GST will be payable on housing units rented to the owner of a proprietary concern for residential use only. The Central Board of Indirect Taxes and Customs (CBIC) also notified changes to GST rates for certain goods and services, effective January 1, 2023, based […]
CBIC: GST is not payable on a house rented to a proprietor for residential purposes.more
The registration of property has stopped across Karnataka because after declaring a two-week lockdown, the government shut its 243 offices of the sub-registrar for the time being. “To ensure the safety of our staff and the public our offices have been closed down. Online registration is not even allowed,” KP Mohanraj, inspector general of registration and […]
Registration of property stops in Karnataka; builders fear a disruption of cash flow.more
The Municipal Corporation of East Delhi has decided to change totally to the online tax collection method. A government entity notification states that property tax returns are now accepted only online. Manual return filing has been taken out. According to the order issued by the accessor and collector office, the change is intended to increase […]
East Delhi Municipal Corporation mandates online Property Tax payment from individuals.more
On August 23, the MCG sealed two properties for non-payment of property taxes of around Rs 22 lakh. The first property is located in Sector 32, with dues of Rs 12.07 lakh, the second in Sector 49, with dues of Rs 10 lakh, officials have stated. The sealing process follows the orders of MCG Commissioner […]
Gurugram civic body gets an order to seal 10 properties in a week for non-payment of property tax.more
India is considering a relief package for Goods and Services Tax (GST) to fight Covid-19’s effect and help support the economy, said people with knowledge of the issue. The package under consideration could include a six-month suspension of GST payments for the worst-hit sectors such as restaurants, aviation and hospitality and a lower rate for […]
Government to consider GST relief package to aid with the impact of COVID-19.more By Abhay Shah, Realty Quarter Property is one of India’s oldest investment avenues that existed prior to the advent of various financial products such as direct equity and mutual funds. People who invest in commercial properties do so either for their own use or for the purpose of letting them out. Tax under commercial […]
Types of taxes applicable on Commercial Properties.more
By Abhay Shah, Realty Quarter The Ministry of Finance on Monday has announced that the owners of the apartment will pay 18% GST if the maintenance costs paid to the resident welfare association (RWA) exceed Rs 7,500 a month. “A waiver was accessible until 25 January 2018 when contribution charges or share were not higher than Rs […]
18% GST is applicable for flat owners whose maintenance charges exceed Rs 7,500 per month.more
By Abhay Shah, Realty Quarter The cost of the property while buying should be added to the charges, such as club Membership fees, car parking charges, electricity and water charges, maintenance fee, advance fee, etc., at the time of determining how much tax deduction should be made from the property at the moment of buying […]
The 2019 budget imposes TDS for parking charges, maintenance fees while purchasing a house.more
By Abhay Shah, Realty Quarter The first phase to construct a house is the purchase of a piece of land. It is therefore essential to verify that the property has a definite, marketable name so that legal problems do not occur. In India, one has to verify that there are no conflicts or legal hazards […]
Understanding legal norms while buying Agricultural land in India.more By Abhay Harish Shah, Realty Quarter With the Confederation of Real Estate Developers Association of India (Credai), Maharashtra Government decided to pass the burden of input tax credit to purchasers, which will affect to increase apartment prices by Rs.200 per square foot. The annual general meeting of the developer’s board in Kolhapur took a decision […]
Apartment price likely to rise by Rs.200 per square foot – Maharashtra Government.more