Re: [aaykarbhavan] QUERY RELATING TO BUILDER

---

Dear Dattaji Kale 

It would not attract VAT as well as Service Tax as it is a immovable property.

It would  attract LTCG @ 20% with indexation. You may opt for exemption.

CA Ekant Jain

91-9582365251

From: Dattaji Kale <brijeshdattaji@gmail.com>
To: aaykarbhavan@yahoogroups.com
Sent: Tuesday, 14 August 2012 2:07 PM
Subject: Re: [aaykarbhavan] QUERY RELATING TO BUILDER

 

No VAT no Service Tax

On 14 August 2012 12:35, Moiz <moizjaorawala@yahoo.com> wrote:

 

Dear members,

A builder owns building with 10 tenants for last 5 years.
The cost of said bldg is shown as investmentin books.
Now they intend to part with this bldg by converting tenancy rights in each flat to ownership to each tenant.

I need clarifications on the following matters:

1. would this be sell of capital assets and liable @20% as LTCG?
2. would it attract VAT & service tax?

Guidance in the matter will be highly appreciated.

Thanks in advance

moiz

--

- Regards,

 

CA Dattaji Kale

 

Brijesh Dattaji & Co.

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___