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SC says no restrictions on voluntary name banners along Kanwar route eateriesNew Capital gains regime: CBDT issues FAQsFM favours debt reduction but sans affecting economic growthMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBDGFT simplifies EPCG Scheme procedures to enhance Ease of Doing BusinessKargil Victory Day: PM warns Pak against practising terrorismMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBPM GatiShakti Group evaluates five key infrastructure projectsMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBLadakh's Budget has increased from Rs 1100 Cr to Rs 6000 Cr in last 5 yrsChina pumps in subsidies worth USD 41 bn into car sectorCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SCIndian Coast Guard rescues 14 Indian crew from stranded vessel near AlibaugObama endorses Kamala Harris for PresidentI-T- Demand notice issued mechanically merits being quashed, where passed in ignorance of assessment order giving clean chit to assessee: HCIndia discovers Lithium Resources in Mandya and Yadgiri districts of KarnatakaIndia's installed Nuclear Power Capacity to triple by 2031-32: MoSGoyal sets USD 50 bn target for footwear industry to achieve by 2030Indian-origin German citizen nabbed with 6 kg of cocaine at IGI AirportAI-based SearchGPT to compete with Google: OpenAIBiden to attend QUAD meeting to be held in New Delhi this year

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Economic Survey disfavours raising of tax exemption limit; calls for hike in property tax rates


proposed hike in property tax rates

It is mentioned in the Economic Survey that property tax rates may be hiked.Today, the real estate business is in slump, people cannot afford to purchase a residential flat de to rise in price in the last some years. In such a situation if property tax rates are hiked it will add in going the market downward in speedily and going on construction will be hampered heavily.Whoever has carried out the survey is not correct and not beneficial to the customers.

Mohit Kumar 26/02/2016

 

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