Mirror Now
@mirrornow·2.2M subscribers·145K videos
What is the rate of service tax applicable on under-construction property? - Property Hotline
Posted
February 9, 2017
Views
194
Likes
1
Engagement
0.52%
February 9, 2017
194
1
0.52%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
1:55Now PlayingExpert: Suresh Surana, Founder, RSM Astute
Question: What is the rate of Service Tax applicable on under construction property whose value is less than Rs. 1Cr. and carpet area is less than 2000 sq. ft.?
Answer: After 1st April 2016 now there is no concessional benefit available for small flats or in your case, property whose value is less than Rs. 1Cr. and carpet area is less than 2000 sq. ft. Now 30% of total value is deemed to be the service element, and on that 15% tax is applicable which comes to 4.5%. The prevalent rates will be applicable for the demand notices raised before April 1st, 2016.
Be Un Confused
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
