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srsubramanian (finance taxation manager )     14 October 2021

construction of apartment.

why construction shouldn't be treated as improvement to UDS land portion blocked for the cost paid and registered under stamps act and registrations paid on market value of the property.

there is no provision to register construction agreement being contract transaction suffered service tax GST VAT-GST etc etc.

except the Collector, no authority of the Registration Department, in any other capacity, could fix the market value and decide upon the proper stamp duty payable in respect of any instrument covered by section 47A of the Act.


If the Revenue feels that there is a lot of tax evasion by resorting to such transaction, i.e., selling a property dividing into many shares, it is worth-while to consider amending the Income-tax Act as well as the Registration Act, in principle which are to be understood by all including the genral public taxpayer and the tax collectors who so ever  income tax authorities, registrar of stamp or advocate and to courts of all all levels from lower court to  supreme court 


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