CONFUSION-ERROR-SYSTEM FAILURE – BBMP PROPERTY TAX
The BBMP website for the collection of PROPERTY TAX for 2016-17 has defaulted in its operation or performance. The BBMP […]
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TAX
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PROPERTY TAXES WILL BE HIKED FROM 01-04-2016, SUBJECT TO THE LEGAL CLEARANCE IN BBMP LIMITS- HIKE BETWEEN 30% TO 40% ACTUALS BUT ON PAPER IT IS 20% AND 25%
Revision of property tax in Bangalore and its legal issues The Government has approved the revision of property taxes in
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The ISSUES the buyer may face to implement this TDS provisions – The rate of 1% may increase to 20% if seller does not provide PAN due to overriding provision of section 206AA of ITA.
Obtaining TAN number for complying with the provisions; Issuance of TDS certificate to the seller; Filing of TDS return quarterly
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TDS ON THE SALE OF IMMOVABLE PROPERTIES – DETAILS IN A NUTSHELL
Tax Deduction at Source (TDS) on transfer of certain immovable properties (other than agricultural land) for value Exceeding Rs.50 Lakh
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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
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NOTICE TO OVER 1,75,000 INCOME TAX ASSESSEES WHO HAVE NOT FILED THEIR INCOME TAX RETURNS
THE INCOME TAX DEPARTMENT HAS IDENTIFIED 12 LAKH NON-FILERS AND HAVE STARTED THE EXAMINATION OF THE DATA AND HAS ISSUED
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