subject: Impact Of Property Tax On Land Value [print this page] Taxes are always the matter for concentration, consideration for investors as well as developers. Budget is out for year 2010-2011 showcasing the difficult portray of complex trade and market activities as because of high duties and service tax revision done by state and central government.
Developers and constructors of land are required to pay imposed tax amount in form of vat or service tax simply called as Tax on Land under the special heads and category income. This is declared by confederation of real estate developers association of India containing the major head from financial institutions. Tax on Land has to borne by the pity consumer as there is addition of 2 more clauses to the application to be followed to business activities for properties in delhi under the service tax department.
Tax on Land will also vary for the beginning to the completion period of activities.The service tax will be imposed on the figure of 33-35% of value sales which will be less than 5% of the hike price borne by the buyer after the formalities completion. So the cost is about to increase with the rise in tax rate in accordance to the rule laid down by government in balance to the inflation rate.The concession can be paid to those who fall in the category of low or under paid or belong to special quote of land reservation. As Tax on Land is challenging to take your dream away.
by: Ashish Pratap Singh
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