Tag: Property Tax in Delhi

Any difference between the agreement value and the ready reckoner value of a property, has implications, not only on the stamp duty payable but also on the income tax of the buyer and seller When you enter into an agreement to buy a property, you have to pay stamp duty to the government. The amount of stamp duty is generally based on the value of the property mentioned in the agreement. To avoid evasion of stamp duty through undervaluation of agreements and to minimize the disputes on the quantum of stamp duty,…

When you buy a home, there are several taxes that the purchaser has to pay. While stamp duty and registration are one-time charges, the property tax is a recurring charge that the owner has to pay every year. How do you calculate property tax The owner of a property is liable to pay the tax levied by the local body (for example, the municipality) and such a tax is called the property tax. This tax may vary from one location to another and there are various other factors that determine the amount…