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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
Purchase of immovable property ₹5,000,000: 1% 194IB: Rent by individual or HUF not liable to tax audit ₹50,000: 5% 194J: Professional or technical services, royalties ₹30,000: 10% 194LA: Compensation on acquisition of certain immovable property ₹250,000: 10% 194LB
Property Tax is levied on the income from the letting of immovable property in Hong Kong. Property tax carries an immaterial proportion of the revenue of the government. For the year of assessment 2013/14, property tax amounts to 0.01% of the total revenue. [4] The tax rules are straightforward and simple.
Any trading nature profits derived from the sale of shares of companies which directly or indirectly own immovable property in Cyprus provided that such profit is exempt from taxation under income tax. No CGT is imposed on the subsequent disposal of properties which are acquired in the period from 17 July 2015 up to 31 December 2016. [26]
The Interpretation of the Act, says "Immovable property does not include standing timber, growing crops or grass". Section 3(26), The General Clauses Act, 1897, defines, " immovable property" shall include land, benefits to arise out of the land, and things attached to the earth, or permanently fastened to anything attached to the earth.
The acquisition of a villa under the Scheme grants resident status to the investor, his spouse and dependents. A residence permit granted under the IRS remains valid until such time as the non-citizen holds immovable property in Mauritius under the scheme. Application for Residence Permit shall be made at the time of purchasing a villa in an IRS.
Head 1: All sale or lease transactions in Hong Kong immovable property. Head 2: The transfer of Hong Kong Stock. Head 3: All Hong Kong bearer instruments. Head 4: Any duplicates and counterparts of the above documents. One example is shares of companies which are either incorporated in Hong Kong or listed on the Hong Kong Stock Exchange.
Property income represents the return for the supply of both physical capital and financial capital. Capitalist economic systems are usually defined as those systems where the means of production are privately owned through equity , stock , bonds or privately held by a group of owners who bear the risk of investment and production to generate ...