Tag: property tax

MANYATA TECH PARK IS IN NEWS AGAIN FOR NON PAYMENT OF TAXES

It has become a fad for the developers and builders for not making (paying)the municipal and other taxes to the local authorities and in one such an instance, the BBMP has issued a notice to the Manyata Tech Park management (managed by a politician in power) to pay the revised taxes and as usual, the … Continue reading MANYATA TECH PARK IS IN NEWS AGAIN FOR NON PAYMENT OF TAXES →

New formula to compute property tax in Bangalore

New formula to compute property tax in Bangalore The state government has decided to redraw area-wise zones based on current market guidance value. The formula is that the property tax is based on the guidance value of the properties in the particular zone  and the tax will be charged accordingly. The tax hike might come … Continue reading New formula to compute property tax in Bangalore →

TDS ON PROPERTY TRANSACTION FROM 01-06-2013

TAX DEDUCTED AT SOURCE (TDS) ON THE PROPERTY TRANSACTIONS ABOVE THE VALUE OF RS50 LAKHS IS EFFECTIVE FROM 01-06-2013, A NOTIFICATION TO THIS EFFECT IS PLACED BY THE INCOME TAX DEPARTMENT.  THIS NOTIFICATION IS NOT APPLICABLE TO AGRICULTURAL LANDS. ONLINE TDS PAYMENT IS AVAILABLE AND THOSE, WHO CANNOT ACCESS IT, CAN MAKE/DEPOSIT THE TAX IN … Continue reading TDS ON PROPERTY TRANSACTION FROM 01-06-2013 →

DOCUMENTS REQUIRED TO SCRUTINISE AGRICULTURAL LAND OR REVENUE LANDS OR REVENUE SITES/PROPERTIES

THE FOLLOWING DOCUMENTS MIGHT BE REQUIRED for  the  EXAMINATION. 1). MOTHER DEED. 2). SALE DEED/PARTITION DEED/WILL/GIFT DEED/RELEASE DEED/RELINQUISHMENT DEED/COURT DECREE/ANY OTHER RELEVANT DOCUMENTS. 3). RTC FROM THE BEGINNING. 4). MUTATION. 5).RR/SAGUVALI CHIT/GRANT CERTIFICATE/LAND TRIBUNAL ORDER/RRT ORDERS,IF ANY( FULL FILE) 6). ILR/PHODI/HUDBUST. 7). ATLAS. 8). AKARBANDH  & TIPPANY 9). RR BALABAGADA NAKALU. 10). SURVEY SKETCH. 11). … Continue reading DOCUMENTS REQUIRED TO SCRUTINISE AGRICULTURAL LAND OR REVENUE LANDS OR REVENUE SITES/PROPERTIES →

NEW GUIDANCE VALUES- DELAYED

IT IS RELIABLY LEARNT THAT THE PROPOSED REVISION OF GUIDANCE VALUE OR THE VALUE AT WHICH THE STAMP DUTY IS COLLECTED FOR THE REGISTRATION HAS NOT YET BEEN NOTIFIED.  THE GOVERNMENT IS WAITING FOR THE NEW REVENUE MINISTER TO TAKE UP THIS ISSUE AND NOTIFY THE SAME. THE BUYERS CAN HAPPILY REGISTER THEIR PROPERTIES AT … Continue reading NEW GUIDANCE VALUES- DELAYED →

MISCONCEPTION ABOUT THE MARKET PRICE AND GUIDANCE VALUE

THE SELLERS ARE IN GREAT MOOD HOPING THAT THE PRICES OF THE PROPERTIES HAVE GONE UP WITH THE REVISION OF GUIDANCE VALUE.  THIS IS A MISCONCEPTION. IN REALITY, THERE WILL NOT BE GOOD DEMAND FOR THE PROPERTIES DUE TO THE REVISION AND INCREASE. THE REASONS ARE: THE SELLERS HAVE TO PAY ADDITIONAL STAMP DUTY AND … Continue reading MISCONCEPTION ABOUT THE MARKET PRICE AND GUIDANCE VALUE →

PROPERTY REGISTRATION EXPENSES SHOOTS UP BY 1% TO 15%

DUE TO THE REVISION OF GUIDANCE VALUE, THE STAMP DUTY AND THE REGISTRATION FEE( CHARGES) PAYABLE BY THE BUYER HAS GONE UP BY 1% TO 15% DEPENDING UPON THE QUANTUM OF REVISION.  GENERALLY, 90% OF THE PROPERTIES REGISTERED ARE ALWAYS UNDERVALUED.  ONLY THOSE SEEKING LOANS FOR THE PURCHASE WERE REGISTERING IT AT THE MARKET VALUE … Continue reading PROPERTY REGISTRATION EXPENSES SHOOTS UP BY 1% TO 15% →

B KATHA OR B FORM IN BBMP LIMITS

THE BBMP IS ISSUING` B` FORMS OR( B) KATHA AS IS GENERALLY CALLED IS JUST A FORM CREATED UNDER THE 2008, TAXATION RULE, WHICH WILL NOT CONFER ANY RIGHT, TITLE AND INTEREST ON THE HOLDER.  AN ENTRY IN THE REGISTER OF TAXES WILL BE MADE UPON PAYMENT OF TAXES AND THIS FORM IS ISSUED. THIS … Continue reading B KATHA OR B FORM IN BBMP LIMITS →