Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TDS :: list of goods taxed at 4% :: empanelment :: ACCOUNTING STANDARD :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit

Kerala Govt revises building tax structure
June, 23rd 2007
The Kerala Government has revised the building tax structure, which will now be based on the floor area, instead of the annual rent hitherto followed.

Making a statement under Rule 300 in the State Assembly on Friday, the Minister for Local Administration, Mr Paloli Mohamed Kutty, said that there had been no revision of the tax structure since 1993 and this had caused huge loss to the local bodies. Till now, the tax was determined as a fixed percentage of the annual rent a building could fetch to the owner.

But since there were no clear-cut guidelines in this regard, there had been complaints about the method, the Minister said.

The revision of the tax structure based on floor area had been made in line with the recommendations of the Sen Committee, which was appointed by the Left Democratic Front (LDF) Government to suggest administrative reforms following the decentralisation of governance.

The Minister said that there would not be much of a hike in the tax for ordinary people under the new dispensation. However, the tax rate would go up in accordance with the size and opulence of the house.

The tax will be determined at a fixed rate per square metre. Besides, the zone where the building is located, road connectivity, the size of the building, the roof, the type of the floor and walls and the age of the building will be taken into consideration while calculating the tax.

There will be varying rates for rural, municipal and corporation areas. In panchayats, the rate will be from Rs 3 to Rs 8 per square metre, while it will be between Rs 6 and Rs 15 in municipalities. In corporations, the rate will be between Rs 8 and Rs 20 per square metre.

In the initial phase, the rates will be Rs 3 to Rs 5, Rs 6 to Rs 8 and Rs 8 to Rs 12 in panchayats, municipalities and corporations respectively.

The huts of poor people, the houses under the EMS Housing Project and those houses made available from Scheduled Castes, Scheduled Tribes and Fisheries Departments have been exempted from tax. Also, houses with a floor area up to 30 square metres will not attract tax.

The new tax structure will come into force in the current financial year, the Minister said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions