Residential complex
This query is : Resolved
06 December 2012
sir,
if assessee acquires 8 plots from same owner under different registry deed and he further constructed 3 floors on each plot..
is he liable to service tax??
if assessee acquires 8 plots from same owner under different registry deed and he further constructed 3 floors on each plot..
is he liable to service tax??
06 December 2012
firstly it is to be seen that for what purpose the said 3 floors on each plot are constructed. If it is for own use then there is no point of service tax.
If the same is for sale to buyer then applicability of service tax would not arise in case entire consideration is received after completion certificate issued by competent authority.
If assessee receives booking advance and then constructs the floors same would be taxable as & when payment is received.
It does not make any difference if assessee acquires 8 plots from same owner or different owner under one sale deed or different sale deeds.
If the same is for sale to buyer then applicability of service tax would not arise in case entire consideration is received after completion certificate issued by competent authority.
If assessee receives booking advance and then constructs the floors same would be taxable as & when payment is received.
It does not make any difference if assessee acquires 8 plots from same owner or different owner under one sale deed or different sale deeds.
Message likes :
1 times
06 December 2012
yes sir these flats are for the purpose of further sale and assessee receives advance payment but sir i'm little confused in the definition of residential complex...
are these 24 floors or flats covered under residential complex definition??
are these 24 floors or flats covered under residential complex definition??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
