Real Estate Forum on Property Tax in Kolkata

Latest Answer: Documents required for buying ready-to-move-in properties - you should check the original sale deed and entire chain of documents right from the Mother Deed and Possession Letter up to the current sellers sale deed. You should also check society membership and whether property tax and all utility & maintenance bills are paid up to date. For under-construction property - In case of under-construction property, you must check whether the builder has received all approvals. You should carefully study all terms and conditions of Allotment Letter and Builder - Buyer Agreement.

Latest Answer: You have to log in to KMC website and fill up the Self Assessment form and submit it. After that you will get the details of your property tax so that you can download or take a screenshot of your paid tax. Here am i giving you the sample of self assessment form. https://www.kmcgov.in/KMCPortal/downloads/SAF_Form.pdf

Latest Answer: No, they have clearly mentioned that in order to get the benefit of the reduced rate, the registration has to be done within 4 years from the date of agreement on payment of balance stamp duty. So, you have long four years to pay the balance Stamp Duty.

Latest Answer: If you purchased a ready-to-move flat and building has received Occupancy Certificate, no service tax/VAT is applicable. He has pocketed your money towards Service Tax and VAT. Consult a lawyer and take a legal action against the builder.

Latest Answer: Nice Info.

Latest Answer: Good afternoon everybody!!!!!! As per the Income Tax Act, tax must be deducted at source by the buyer of a property from payments made to a seller who is resident in India. TDS must be deducted on sale of all types of property, except where the property sold is an agricultural land. TDS is applicable when receipts are of more than Rs 50 lakh. This TDS must be deducted 1% by the buyer at the time of making the payment.

Latest Answer: I think Service tax is not applicable in your case, Service tax is levied only on under construct property not in completed projects.

Latest Answer: Thanks for the inputs all!!

Latest Answer: How can I find out the market value of my area for stamp duty purposes??? My area is Bondel Road Kolkata 700019

Latest Answer: Firstly you have to book the flat for which you have to pay a lum-sum amount asked by the builder and at the time of registration you have to pay the rest of the amount equal to 20% of the total property value.