TaxTMI 
TaxTMI 
Is Selling/transferring lease land taxable?
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....s Selling/transferring lease land taxable?<br> Query (Issue) Started By: - Yatin Bhopi Dated:- 13-10-2014 Last Reply Date:- 14-10-2014 Service Tax<br>Got 4 Replies<br>Service Tax<br>Dear experts, Weather selling / transferring lease land taxable under service tax law? If it is taxable what will be taxable value? Is it on selling/transfer price? Reply By Madhukar N Hiregange: The Reply: The defi....
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....nition of services excludes transfer of immovable property. The benefits arising from land also MAYBE said to be connected to Imm Property. Both selling / transfer of lease land may not be liable under ST. Reply By Yatin Bhopi: The Reply: Sir Thanks for your immediate replay.But I would like to redraft my query We are holding lease land (lease agreement between us and XYZ. We are in the proc....
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....ess to transfer this lease land to other party (ABC). After the transaction our agreement between XYZ will come to end and new arrangement will come into force between XYZ and other party (ABC). Since in this transaction we are not selling the land since we are not the owner of the land. Whether this transaction will attract service tax or not? Please guide us Reply By PAWAN KUMAR: The Reply: ....
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.... Dear Sir, As per my view, it is a case of transfer of title in immovable property as per clause (44) (a) of section 65B, hence not liable for service tax at all as the same is out of purview of service. Reply By Pradeep Khatri: The Reply: Dear Yatin, No service tax would be applicable on such transactions, however, Stamp Duty and Municipal Tax would be payable on sale/transfer of land. Regar....
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....ds YAGAY and SUN (Management, Business and Indirect Tax Consultants)<br> Discussion Forum - Knowledge Sharing ....