NBR Developers
Citiescities-arrow
  • more-arrow-down
    • Please wait while loading other cities loading...

3.30 Percentage of Service Tax on flats evaded

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
mobile-ad
The Finance Ministry said that there will be relief to the buyers of the flat who has booked their flats before the notification service and we are investigating on it. And the government has let off the tax for the flats which had been booked before the announcement of the prolonged construction service. So, here those who have booked the flats will get the ownership only after the announcement of the new services and they need not worry about their flats. This effect will start when the tax notification is finalized.
The classification of construction services and the levying tax should be expanded on the houses which are all under the constructions suggested the Union Budget. This new rule will come into the consequence when the Parliament endorses the financial statement, says the service tax and will be compulsory when the payments are made before the construction is completed. Already the real estate industries are paying 14-16% as circuitous tax and the government is reconsidering on the decision to increase the service tax. In the realty companies they usually sell the properties before the construction and they even fright that the move will hit the sector hardly that the home prices and the depress demand may go high.
The government has also planned to include the charges like development fee, premium location charges and parking fee at the time of the completion of construction from the basic price. And 33% of the base price will be paid for the service tax duty at the rate of 10% and the effectual tax to 3.3%. The Revenue Secretary Sunil Mitra has said that the suggestion will not be hike prices by more than 3.5%. The government will stay hard on the levying the tax and the construction is a service and there is no reason why the construction service should be taxed. And it is only 3% or 3.5% which gets added up for the buyers.
Source: NIMMA BENGALURU

Property Listings

Apartments, Flats and Property for Sale in Bangalore

May 22, 2017
A well-built East facing 3 bedroom(s) Unfurnished flat available for sale at BREN PALMS, Kudlu Gate in Bangalore. The flat is Ready to..
May 20, 2017
The Grass Will Always Be Greener On Your Side. And the joy of discovery will be at every turn. The freshest mornings will only be outdone by the..
May 20, 2017
The Grass Will Always Be Greener On Your Side. And the joy of discovery will be at every turn. The freshest mornings will only be outdone by the..
May 20, 2017
The Grass Will Always Be Greener On Your Side. And the joy of discovery will be at every turn. The freshest mornings will only be outdone by the..
May 20, 2017
The Grass Will Always Be Greener On Your Side. And the joy of discovery will be at every turn. The freshest mornings will only be outdone by the..
May 19, 2017
Bren Woods is located in Bangalore and comprises of thoughtfully built Residential Apartments. The project is located at a prime address in the..
May 19, 2017
Bren Woods is located in Bangalore and comprises of thoughtfully built Residential Apartments. The project is located at a prime address in the..
May 18, 2017
A well-built East facing 3 bedroom(s) Unfurnished flat available for sale at BREN PALMS, Kudlu Gate in Bangalore. The flat is Ready to..
May 18, 2017
A well-built East facing 3 bedroom(s) Unfurnished flat available for sale at BREN PALMS, Kudlu Gate in Bangalore. The flat is Ready to..
May 17, 2017
The property offers amenities like Fire Safety, Solar power, Garbage chute, Jacuzzi, Kids pool, Lobby area, Plantation Avenue, Water treatment,..
spacer

Apartments, Flats and Property for Rent in Bangalore

May 16, 2017
Spread over 6.9 acres of land and comprising of 3 Blocks, SOBHA CLASSIC is strategically located off Sarjapur Road, Bangalore and offers close..
May 15, 2017
Flat for rent in Haralur Road near Kudlu(AECS Layout). East facing 2BHK (1235sq.ft) flat for rent. It is situated on the main road(Haralur Road)..
Apr 23, 2017
As my office is far from Flat, planning to..
Apr 21, 2017
New Era Luxury Hostels for Girls , accommodation for every budget • Brand New building • Spacious and well ventilated..
Apr 19, 2017
2BHK apt for rent, ground floor, car parking, power backup, arkere BPL bus stop, next to Mitra Academy school, Bannerghatta main road, available..
Mar 31, 2017
LEASE OR RENT Near Manyath tech park brand new 2b/r multistory apartment with swimming pool, gym party hall, power backup, car..
Dec 23, 2016
MY 2 BHK SEMI FURNISHED FLAT AT AJMERA INFINITY ( 11 FLOOR, FRONT FACING,GOOD VIEW ) WILL BE AVAILABLE FOR RENT FROM 01 FEB 2017 ONWARDS. IF..
Dec 04, 2016
A safe secure society of defence officers, with clean air and environment. With facilities like, gym, pool, ATM, parking, etc near the..
Sep 30, 2016
Rent - 2 BHK Flat In Kaggadasapura. Available 2 BHK Flat for Rent in..
Sep 30, 2016
Rent - 2 BHK Flat In Kaggadasapura. Available 2 BHK Flat for Rent in..
spacer
spacer
spacer
spacer
spacer