Bangalore
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service tax on construction

TAXES TO BE PAID

Taxes to be paid while registering the property

Various taxes need to be paid at the time of property registration. These taxes are paid to the local government authorities of every city so as to keep an account of the true value of the property. The following taxes need to be paid by the buyer at the time of property registration. Tax Deduction […]

Budget

Consumer’s Perspective of the Budget 2012-13

Real estate is one of the fastest growing sectors in India with an average growth of 14% annually. According to the market report the housing sector is growing at an average of 34% annually and the hospitality industry has witnessed a growth of 10-15% last year. With this tremendous growth, Real estate had a lot […]

Amendment in Service Tax for Under Construction Property

The budget 2014-15 has proposed to levy service tax only on under-construction properties. Accordingly, property buyers have to pay the builder an extra amount towards towards service tax, which is deposited with the service tax department. Finance Bill 2010 has introduced eight new services to charge service tax. This includes Special services provided by a […]

Service Tax on Construction and Sale of Residential Property

As per the budget proposal for 2010-11, the finance ministry has suggested service tax on construction and sale of property. Service Tax is a tax levied on service providers in India. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to […]

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