07-01-2009, 08:06 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Omeir</i>
<br />Is this rate applicable to both commercial and residential rent?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Aforementioned rates are only applicable for companies , i.e. if the property holder is a company ,
However,Rates applicable on property income of AOPs & individuals are the following,
(1) Where the gross amount of rent does not exceed Rs.150,000.
Nil
(2)Where the gross amount of rent exceeds Rs.150,000 but does not exceed Rs.400,000,5 per cent of the gross amount exceeding Rs.150,000.
(3)Where the gross amount of rent exceeds Rs.400,000 but does not exceed Rs.1,000,000,Rs.12,500 plus 7.5 per cent of the gross amount exceeding Rs.400,000.
(4)Where the gross amount of rent exceeds Rs.1,000,000,Rs.57,500 plus 10 per cent of the gross amount exceeding Rs.1,000,000.
Best Regards,
<br />Is this rate applicable to both commercial and residential rent?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Aforementioned rates are only applicable for companies , i.e. if the property holder is a company ,
However,Rates applicable on property income of AOPs & individuals are the following,
(1) Where the gross amount of rent does not exceed Rs.150,000.
Nil
(2)Where the gross amount of rent exceeds Rs.150,000 but does not exceed Rs.400,000,5 per cent of the gross amount exceeding Rs.150,000.
(3)Where the gross amount of rent exceeds Rs.400,000 but does not exceed Rs.1,000,000,Rs.12,500 plus 7.5 per cent of the gross amount exceeding Rs.400,000.
(4)Where the gross amount of rent exceeds Rs.1,000,000,Rs.57,500 plus 10 per cent of the gross amount exceeding Rs.1,000,000.
Best Regards,
