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What is tax implication on redeveloping housing society?- Property Hotline
Posted
October 20, 2016
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1,052
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October 20, 2016
1,052
7
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5:20Now PlayingExpert: Samir Kanabar, Partner - Tax & Regulatory Services at EY.
Question: When a registered housing society is redeveloped, what is tax implication for each member?
Answer: Different taxes applicable - Stamp duty and income-tax. Rent received will be taxable as income from other sources. Actual rent paid may be offset against rent received.
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