value added tax
Sources reveal that Maharashtra chief minister Prithviraj Chavan is not in favour of extending the deadline for paying value added tax (VAT) or reducing the tax rate on flat purchases. As the order of paying VAT has been handled by the high court, the chief minister does not want to extend the deadline or reduce [...] Continue Reading »
The forum for Tax Advocates asked the Delhi Government to come out with a new scheme for builders and land developers who have been constructing buildings and offices on contract basis for non-payment of Value Added Tax. The president of the advocate association feels that in the coming budget for 2012-13 the Delhi Government should [...] Continue Reading »
Finance minister has proposed for Tax Deducted at Source (TDS) to all who buys immovable property (other than farm) worth Rs 50 lakh or above in cities and Rs 20 lakh in other areas, must withhold tax of 1% of consideration. And the buyers should provide the proof of remitting the 1% tax in time [...] Continue Reading »
