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

KARNATAKA STATE BUDGET 2012 -13

  • 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
HIGHLIGHTS OF TAX PROPOSALS
Commercial Taxes · Commercial Taxes collection for 2011-12 also is likely to exceed the target fixed. · Target of Rs 26,700 crores expected to surpass by at least Rs 500 crores. · More than 80% of the tax collections through electronic mode. Attempts to achieve 100% payment through emode.
Value Added Tax Reliefs: · Tax exemption on paddy, rice, wheat, pulses and products of rice and wheat continued for one more year from April, 2012. · Tax reduction on ready to cook chapathi and parota reduced from 14 per cent to 5 per cent. · Tax reduction on un-ginned raw cotton from 5 per cent to 2 per cent. · Tax reduction on dry chillies from 5 per cent to 2 per cent and revision of Central Sales Tax on inter-State sales from 1 per cent to 2 per cent. · Tax reduction on surgical footwear from 14 per cent to 5 per cent. · Tax exemption on Braille watches. · Tax reduction on black boards from 14 per cent to 5 per cent. · Tax reduction on jewellery and articles of gold and other noble metals, precious and semi-precious stones from 2 per cent to 1 per cent. · Tax reduction on works contract of manufacture of readymade garments and embroidery work from 14 per cent to 5 per cent. · Tax reduction on furnace oil sold to foreign going vessels from 14 per cent to 1 per cent. · Tax reduction on naphtha from 14 per cent to 5 per cent. Additional Resources Mobilization Measures · Levy of VAT at 5 per cent on beedies. · Levy of VAT on cigarettes and other tobacco products from 15 per cent to 17 per cent. · Levy of VAT at 5 per cent on plastic woven fabrics.
Central Sales Tax Rationalization Measures: · Revision of Central Sales Tax on inter-State sales of dry chillies from 1 per cent to 2 per cent. Sales Tax Relief: · Reduction of Sales Tax on Diesel by 1.25 per cent point – reduction of tax rate from 18% to 16.75%. · Reduction of sales tax on High Flash High Speed Diesel sold to foreign going vessels from 18 per cent to 1 per cent. Luxury Tax: Additional Resource Mobilization Measures: · Levy of tax at 10 per cent on luxuries provided in temporary structures operating as marriage halls. · Levy of tax at 10 per cent on luxuries provided in seminar halls, conventional halls and others. Agricultural Income Tax Relief: · Tax exemption to partnership firms.
Central Sales Tax Rationalization Measures: · Revision of Central Sales Tax on inter-State sales of dry chillies from 1 per cent to 2 per cent. Sales Tax Relief: · Reduction of Sales Tax on Diesel by 1.25 per cent point – reduction of tax rate from 18% to 16.75%. · Reduction of sales tax on High Flash High Speed Diesel sold to foreign going vessels from 18 per cent to 1 per cent. Luxury Tax: Additional Resource Mobilization Measures: · Levy of tax at 10 per cent on luxuries provided in temporary structures operating as marriage halls. · Levy of tax at 10 per cent on luxuries provided in seminar halls, conventional halls and others. Agricultural Income Tax Relief: · Tax exemption to partnership firms.
Excise Excise Department to surpass the target of Rs. 9,200 crores by over Rs. 300 crores and reach Rs 9,500 crores during 2011-12. KSBCL profit margin to be reduced to 0.5% and the difference to be merged with the Additional Excise Duty. Additional Excise Duty on IML to be increased by 7.5% to 10% on the 17 slabs. The 17 slabs of the Declared Price are being restructured with an increase of Rs 25. Additional Excise Duty on Beer & Low Alcoholic Beverage to be increased by 7.5%. A volume growth of 7% to be achieved in liquor sales and a revenue target of Rs 10,775 crores is set for 2012-2013. The pre-condition of possessing a licence for obtaining Micro Brewery licences to be relaxed and licences to be issued for independent Micro Breweries. To meet the demand of farmers cultivating Bangalore blue grapes, provision to be made for selling fortified wine in wine Taverns and Boutiques after reducing the alcohol strength from 24% volume by volume to 16% volume by volume and fixing the fruit wine content to a minimum of 7% volume by volume. Existing additional excise duty on fruit wine to be reduced by 50%.
Stamps and Registration Reduction in the stamp duty from 6 to 5% on conveyance/sale deeds. Levy Stamp Duty at 1% (subject to a maximum of Rs 15 lakhs) on the market value of the property in respect of Joint Development Agreement and Power of Attorney thereof. On documents relating to any Pawn and Pledge stamp duty to be reduced to 0.1%. On Bonds stamp duty to be reduced to 0.5%. Levy of stamp duty at 0.1% in respect of agreements relating to advertisement for business development, granting of exclusive rights of telecasting/broadcasting of programs and assignment of Intellectual Property Rights. Stamp duty of Rs. 100/- being levied on Customs bond to be extended to Excise bond. “Currencies” to be included under the “Brokers’ Note” along with Goods or Commodities. In respect of agreements relating to Works Contract the stamp duty to be levied at 0.01% subject to a maximum of rupees five lakhs. In respect of partnership deeds, the minimum slab of capital and the stamp duty payable thereon to be increased.
Motor Vehicle Taxes Life time tax at 15% instead of existing quarterly tax, to be levied on Motor cabs costing more than Rs 10 lakhs. Motor Vehicle Tax collection expected to be Rs. 3350/- Crores during 2012-13.
Source: NBTVLIVE

Property Listings

Apartments, Flats and Property for Sale in Bangalore

Sep 21, 2016
http://www.mahaveerzephyr.contact-us-now.com Mahaveer Zephyr is a residential development of Mahaveer Group. It is located off Bannerghatta Road,..
Sep 16, 2016
http://www.salarpuriasattvaopus.contact-us-now.com Salarpuria Sattva Opus has pre- launched Bangalore a Premium Gated Community Residential..
Sep 14, 2016
Goyal Orchid Whitefield project is spread across 7 acres of land and it offers 1, 2, 2.5 & 3 BHK housing apartments with comfortable..
Sep 08, 2016
For Sale: Newly const. 2 bhk. Area: 1272 sft. Level: F/Floor Car Park: 1 slot. Price: 1.05 Cr. Incl. 1 Car park & deposits..
Aug 30, 2016
http://www.codenamefiverings.contact-us-now.com Codename five rings is brand new venture of developer, nicely instituted at Sarjapur in Bangalore,..
Aug 29, 2016
http://www.legacyestilo.contact-us-now.com Legacy Estilo Bangalore offers 1, 3 and 4 BHK apartments for buyers and consists of 58 units in all...
Aug 24, 2016
http://www.peninsulaheights.contact-us-now.com Peninsula Land is now in Bengaluru, with a luxurious gated residential complex “Peninsula..
Aug 22, 2016
http://www.legacycelino.contact-us-now.com Legacy Celino is located in Thanisandra, Hebbal to Airport in Bangalore. Legacy Celino is currently a..
Aug 16, 2016
Bhadra Legacy is a modern luxurious living space at a premium location of Bangalore, MG Road. The 19 super luxurious apartments offers a..
Aug 11, 2016
http://www.godrej17.contact-us-now.com Godrej 17 brings to the market a wide range of apartments for families of all sizes at an affordable price..
spacer

Apartments, Flats and Property for Rent in Bangalore

Sep 16, 2016
Fully furnished Flat for Rent at Cookes Town ( Lloyd Road) 3 BHK with Car Parking, Lift, Power Back up, 24hrs water, Good Location with all..
Jul 25, 2016
The House available for Rent is in the First floor The locality of house is Near Koramangala and Outer Ring Road House No. 12, 19thA Cross, Near..
Jul 02, 2016
Flat for Rent at Cookes Town 2 BHK with car parking 24hrs water, Lift, Power Back up, Good Location with all Basic Fecilities. Rent0..
May 28, 2016
A spacious 3 Bedroom flat is available for Rent in Kadugodi, Bangalore. It is located on the 2 Floor. It has a covered area of 1650 Sq-ft. The..
May 24, 2016
2bhk ready to move closer too all basic needs closer to all IT CO. very good and safe..
May 02, 2016
Flat for Rent at M.G Road (Vittal Mallya Road ) 2 BHK Ground Floor Built up - 1340 sq feet, North Facing 24hrs water, Lift, Power back up, Good..
Apr 28, 2016
New Flat for Rent at Frazer Town 2 BHk with car parking Lift, power back up,24hrs water Good Location with all Basic Fecilities, Rent..
Apr 12, 2016
3bhk Pent House For Rent in Akme Ballet Apartment For 52k Call SAIF Size: 3BHK (2300sft) Area: Outer Ring Road, Dodda Nekundi, Bangalore Land..
Mar 19, 2016
Rs20000 / 2br - 1100m2 - 2 BHK house for rent (kundanhalli..
Mar 18, 2016
*SPACIOUS FLAT WITH EXCELLENT DAY LIGHT( NATURAL LIGHT) AND AIR CIRCULATION * Furnished with Sofa set, TV cabinet , Double bed , Exhaust Fans,..
spacer
spacer
spacer
spacer
spacer