Comments on: Deepak Shenoy: Real Estate Calculator, Short Selling in India http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/ A blog about Indian Capital Markets, by Kaushik Gala Fri, 21 Nov 2008 12:42:20 +0000 http://wordpress.org/?v=2.6 By: Kaushik http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-340 Kaushik Fri, 16 Mar 2007 17:32:48 +0000 http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-340 Not sure about VAT. I know that the recent budget decided to include commercial real estate rentals in the tax net. Perhaps you are thinking of the "Works Contract Tax"? http://www.indiainfoline.com/budget/innernews.asp?storyId=28557&lmn=8 "ii. State Government levy Works Contract Tax on the transfer of property involved in the execution of a Works Contract. Value of services provided in relation to execution of Works Contract will be subjected to 12% Service Tax." Not sure about VAT. I know that the recent budget decided to include commercial real estate rentals in the tax net. Perhaps you are thinking of the “Works Contract Tax”?

http://www.indiainfoline.com/budget/innernews.asp?storyId=28557&lmn=8
“ii. State Government levy Works Contract Tax on the transfer of property involved in the execution of a Works Contract. Value of services provided in relation to execution of Works Contract will be subjected to 12% Service Tax.”

]]> By: Pia http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-339 Pia Fri, 16 Mar 2007 17:19:18 +0000 http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-339 Thanks. Bangalore has VAT now does'nt it ? Does it apply to resale of apartments as well and how much is it? Thanks. Bangalore has VAT now does’nt it ? Does it apply to resale of apartments as well and how much is it?

]]> By: Kaushik http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-336 Kaushik Fri, 16 Mar 2007 09:28:53 +0000 http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-336 Pia, Please refer to the website of the Department of Stamps & Registration, Government of Karnataka. Here's is a couple of pages that walk you through the calculations: * http://www.karigr.org/stampdutyregistration/Default.htm * http://www.karigr.org/modeldeeds/firstsaled.htm#pay I guess you should count on paying an additional 10% of the property (transaction) value for stamp duty, registration, etc. Pia,

Please refer to the website of the Department of Stamps & Registration, Government of Karnataka.

Here’s is a couple of pages that walk you through the calculations:
* http://www.karigr.org/stampdutyregistration/Default.htm
* http://www.karigr.org/modeldeeds/firstsaled.htm#pay

I guess you should count on paying an additional 10% of the property (transaction) value for stamp duty, registration, etc.

]]> By: Pia http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-334 Pia Thu, 15 Mar 2007 20:00:14 +0000 http://www.galatime.com/2007/03/15/deepak-shenoy-real-estate-calculator-short-selling-in-india/#comment-334 Hi, I was planning to buy property in Bangalore and was wondering what registration fees, taxes, VAT I would need to pay above the value of the property. If I had to buy an apartment for 90 lakhs what would my total expediture be including the above. Thanks a ton. I have found your website very intersting Hi,

I was planning to buy property in Bangalore and was wondering what registration fees, taxes, VAT I would need to pay above the value of the property. If I had to buy an apartment for 90 lakhs what would my total expediture be including the above. Thanks a ton. I have found your website very intersting

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