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sharathchandra (n/a)     06 March 2009

Property Tax

Dear Friends,

I want a clarification from my Learned friends regarding Property Tax. The Thing is, our Industry was sold to us by M/s Karnataka Industries Development Board on the basis of Lease cum sale deed and after  10 years ithe ownership was trasferred in the name of the Company. During the lease cum sale period we have been paying them annual rent & Maintenance charges. Now thw question is whether we have to pay the property tax during the lease cum sale period also or only after the ownership was transferred to us? Please clarify.




 2 Replies

Y V Vishweshwar Rao (Advocate )     06 March 2009

In genral , the Proeprty Tax has to be paid by the Owner  , but the Board sold the

Industriy to you on lease cum Sale basis , if you comply all the terms of  the

Deed , the sale will be concluded  . The Terms of Allotmetn  /or / Lease Cum

Sale  will fix the responsibility to pay the Proerty tax . As per the  said Terms the

Proerty Tax  to be paid  ,  please go throught lease cum Sale  Deed /document

udner which you have acquired he Industry

BHANU RASPUTRA (ADVOCATE & SOLICITOR divyatta.r@gmail.com)     07 March 2009

i agree with mr. rao

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