tax against land
pawan patnaik (59 Points)
16 January 2018
If we purchased a land Rs.24,00,000/- so how much tax should be paid?
7 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195703 Points)
Replied 16 January 2018
No income tax....... No GST ........... only stamp duty & registration charges as per circle rate of the state...... usually 6 to 7%.......
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195703 Points)
Replied 16 January 2018
When there is no income tax or GST......... no question of TDS/TCS........
(N.B. all the payments should be through banking mode)
Dilip Kumar Jana
(74 Points)
Replied 16 January 2018
If stamp duty value is higher than deed value, difference amount is taxable as income from other source.
Dipesh Jha
(PRACTICE )
(673 Points)
Replied 16 January 2018
Tax is levied on sale of land(under Capital Gain) not on purchase....
Dipesh Jha
(PRACTICE )
(673 Points)
Replied 16 January 2018
Tax is levied on sale of land(under Capital Gain) not on purchase....
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