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Taxes For Leasing Property

Highlighted below are a Number of Taxes payable along with General Expenses incurred for leasing the property.

1.Fringe Benefit Tax payable by the Employee in case of a Company – Lease – 20% (Tenant to Pay)

2.Service Tax – Presently only on Commercial Property – 12.36% – (Owners to Pay)

3.Property Tax on Leasing/Licensing (more in commercial property) – (Owners to Pay)

4.Stamp Duty and Registration Fees  – (Jointly shared by both the parties in most cases)

5.Income Tax  – (Owners to Pay)

6.Society Maintenance/Non – Occupancy Charges charged by the Society – (Owners to Pay)

7.Municipal Taxes on Property in General – (Owners to Pay)

8.Incidental Expenses/Consultant Fees/Lawyer Fees (owners and tenant to pay)

9.Painting / Polishing / Furniture / Maintenance (owners to pay)

10.Sundry repairs from time to time (owners to pay)

11. Interest payable @ nearly 11% to the Banks for Purchasing the property.

Souce – Sandeep Sadh CEO Mumbai Property Exchange.

About Sandeep Sadh

Mumbai Property Exchange is promoted by Mr.Sandeep Sadh who has been in the real estate business since the year 1993 and has an experience in transacting in Residential Lease & Sale, Commercial Lease & Sale. The experience of transacting and having a practical approach at work in each segments of real estate has given Mumbai Property Exchange an edge over its competition.

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