venkata krishna reddy (chartered accountant) (792 Points)
13 January 2016on of my client, construct a building in a place of his own 2000 sq.feet land. Building is divided in to 6 flats and all are Sale to his relatives(each flat for Rs.15,00,0000/-). He made an expenditure to construct the building is Rs.45,00,000/-. Now my query is, what is the Portion Of Service Tax and Percentage of Service Tax?
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 13 January 2016
Options: pay on 25%x 14.5% of gross. or arrive at Land Value deduction. On Balnace pay 40% x14.5.
venkata krishna reddy
(chartered accountant)
(792 Points)
Replied 13 January 2016
thank you Sir.
Rs.45,00,000/- expenditure incurred for consrtucting building. this expenditure can i considered (like Land Development Charges and on the Arriving amount, consider 40% value
ash_TRSS
(Article)
(311 Points)
Replied 13 January 2016
Get the completion certificate to solve service tax issues
CAclubindia
