Q:property registered in jan 2015. Do I need to pay property tax for 2014-2015 as well or just for 2015-2016. I heard that the builder has not paid tax for 2014-2015. Please advise if I have to pay for earlier year as well.
Latest Answer: Hi Manohar, As far as I know it is the builder who hae to pay the property tax for the financial year 2014 - 2015 and you have to pay for 2015-2016. I would advice you to take suggestions from your legal expert before paying the property tax.
Q:I have purchased a BBMP A-Katha site and transferred the Katha to my name. I got the plan approval for construction and constructed the house very recently. Till these years I was paying property tax for land. I understand from this year I have to pay for house constructed on it too. What is the procedure to be followed to update my tax details?
Q:The builder has asked to pay 16k immediately as the service tax has been revised by the government from 1st April 2012 onwards. Aren't we supposed to pay revised service tax only on outstanding amount, not on entire amount? Thanks.
Latest Answer: Service Tax rule and procedure is still unclear for number of buyers buying property in India. I feel the builder should send the buyer an email on what is actual price of property, how much you already paid and what is outstanding amount, Service tax on property etc. I think builders calculate service tax on under-construction properties on price of property but it depends on the outstanding amount. The builder cannot ask service tax for amount already paid. In case you have any confusion or need a guidance, you can ask legal expert on the same.