Anonymous
28 June 2018 at 17:20
an acquaintance engaged a contractor to build his office. he deducted works contracts tax from the payment but didn't deposit it with the concerned authority. therefore he doesn't have the certificate.
now the contractor is asking for either the certificate or the remaining payment.
our concern is:
1. if he does not pay the tax within a stipulated period, what is his liability to punishment?
2. since its not yet paid, whom should that deducted amount be paid to - the contractor or the authorities?
3. if he gives the remaining amount to contractor and not to the authorities, and ultimately the tax is not paid, what is his liability? would it double up?
4. how can he ensure that he doesn't have to pay the amount?
Anonymous
28 June 2018 at 15:23
my friend engaged a contractor to build his office. he deducted works contracts tax from the payment but didn't deposit it with the concerned authority. therefore he doesn't have the certificate.
now the contractor is asking for either the certificate or the remaining payment.
our concern is:
1. if he does not pay the tax within a stipulated period, what is his liability to punishment?
2. since its not yet paid, whom should that deducted amount be paid to - the contractor or the authorities?
3. if he gives the remaining amount to contractor and not to the authorities, and ultimately the tax is not paid, what is his liability? would it double up?
4. how can he ensure that he doesn't have to pay the amount?
Chandraprakash B. Morjal
27 June 2018 at 16:16
I had purchased ready built flat on 26.11.2012 in a building consisting of 10 flats from Shri T.K. Joshi, doing Real Estate business in the name and style of "Lakshmi Developers". As per agreement, Maintenance Charges @ Rs.1686.00 per month was paid to the builder in a lump for three years period ending 25.11.2015. After completion of said three years, the builder continued levying maintenance charges in the absence of Co-operative Housing Society. Now maintenance charges are increased from Rs.1686.00 to Rs.2248.00 per month + GST @ 18%. Though the builder is doing his real state business in the name and style of "Lakshmi Developers" but he is claiming maintenance charges by cheque in the name of "Lakshmi Developers Vrindavan". The property is within jurisdiction of Gram Panchayat in Thane District of Maharashtra State. The Gram Panchayat is not providing any civil amenities to the residents because the builder has not cleared old outstanding dues of Gram Panchayat. The civil amenities being provided by the builder is sub-standard. Now my points for clarification from expert are as below:
(1) Whether GST @18% can be paid :
(i) to "Lakshmi Developers Vrindavan" which is not registered under GST;
(ii) the monthly maintenance charges are below threshold limit of Rs.7500/-;
(iii) the annual turnover of "Lakshmi Developers Vrindavan" is below 20.00 lakh;
(2) Whether higher rate of Maintenance Charge is payable to the builder, who is not initiating for formation of a Co-op. Housing Society, and providing only sub-standard Civil amenities.
(3) Whether the builder can delay the payments of old outstanding dues of Gram Panchayat and thereby deprive the residents to avail standard amenities from local authorities.
Note: Civil amenities, wherever mentioned in the above query means "Services and Maintenance".
Gunavant patil
26 June 2018 at 19:47
Sir, I had book the 2 bhk flat in april 2017 at Nasik, Maharastra which will be completed in 2019 and bulider also registered in RERA. Now Bulider is asking GST 12% excluding Stamp duty@5%, Registration charges@1%. Kindly clarify ? what is GST rate is applicable for under construction apartment. with stamp duty and registration charges ? my builder now follows for agreement with GST 12% excluding Stamp duty@5%, Registration charges@1%.
Any chances to reduction in the GST rate for real estate sector within 3-4 months? Builder is not ready to pass credit input of Land also ?
Regards,
Gunavant Patil
8884185395
Gunavant patil
26 June 2018 at 19:37
Sir, I am salaried person and having one property (2 bhk flat). Now all home loan cleared of this property. Presently i have book the another flat (2 Bhk) still registration is pending. I am planning to register the second property on my wife name. can you brief me followings: 1. what is benefit in terms of money ? 2. what is benefit in terms of income tax? and which ITR should i have to filled if second property buy on name of wife ?
umer amin
26 June 2018 at 14:12
Sir, kindly specify the limitation to claim stamp duty by collector.
Anonymous
25 June 2018 at 17:37
A flat in Mumbai is jointly held by the mother and 2 adult daughters. The mother and elder daughter are NRIs holding PAN cards. The younger daughter has given up her Indian citizenship and is now a foreign passport holder.
The family is interested in selling the property. Since 1% TDS is applicable for sale of property valued above 50L how does one go about when there is no PAN card with one of the owners.
dr.pannalal nawalkha
17 June 2018 at 16:10
PROPERTY WAS SOLD IN FY 2015-16 be considered for base rate of 2001 for valuation purposes.AT present from FY 2016-17 base rate for valuation has been fast forwarded to 2001. My submission that since 2001 is taken as base year,its applicability be from 2002-2003. your opinion solicited pannala nawalkha
kehar singh
14 June 2018 at 19:02
Sir,
One employee has been posted in my department and the TDS amount to be deducted from his salary as shown in his Last Pay Certificate issued and signed by his previous employer is NIL.
I doubt on the TDS amount shown in his LPC, so I asked him to furnish the other document if any so as to establish how your TDS amount arrived at 'NIL'.
The employee has denied to furnish any documentary evidence but rather told me to go with the amount shown in his LPC. He further said "under which provision of IT Act you have the right to deny the amount shown in my LPC and under which provision you are asking for the document.
So my question to the learned members are :-
1. Should I go with the TDS figure shown in LPC or re-assess his TDS amount and deduct the calculated amount. ?
2. If I should re-assess and start deduction accordingly then under which provision I as a Deductor have the right to do so legally.
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