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… Read More

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… Read More

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… Read More

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).… Read More

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… Read More

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… Read More

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… Read More

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… Read More