198678
Descripción
Mapa Mental por Darshan Roopun, actualizado hace más de 1 año
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Creado por Darshan Roopun
hace más de 10 años
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THE LAND (DUTIES & TAXES) ACT -
TAX ON TRANSFER OF LEASEHOLD
RIGHTS IN STATE LAND
- S. 26A - Tax on transfer of leasehold rights in State land
- There shall be levied, on the registration of a deed of transfer or a deed witnessing the transfer of
leasehold rights in State land
- of leasehold rights in State land
- of shares in a civil society or association which
reckons among its assets any leasehold rights in
State land
- of shares in a partnership which reckons
among its assets any leasehold rights in
State land
- of shares in a company which reckons among
its assets any leasehold rights in State land
- shares in a company or issue of shares by a
company or transfer of part sociale in a société
which gives right of ownership, occupation or
usage of an immovable property or any part
thereof
- includes any issue of new
shares to any person or
conversion of debentures into
shares by a company which
results in a change of control of
that company.
- includes any issue of new
shares to any person or
conversion of debentures into
shares by a company which
results in a change of control of
that company.
- a tax on the open market value of the leasehold
rights at the rate specified in the Seventh
Schedule
- of leasehold rights in State land
- shall be paid by the transferor and the transferee in equal proportion
- the tax shall be payable in such proportion as the number of shares transferred bears to the total
number of shares issued by the company or to the total number of shares in the civil society,
partnership or association, as the case may be.
- no tax under this section shall be paid on the registration of a deed of transfer or a deed witnessing the
transfer of leasehold rights in State land where
- the application to the Ministry of Housing and Land Development for the transfer was made before 9
June 1997
- a transfer of shares in a company referred to in subsection (1) (b) or (c) takes place and no duty under
the Registration Duty Act is leviable on the transfer by virtue of the exceptions specified in item 8 of
paragraph J of Part I of the First Schedule to the Registration Duty Act.
- the application to the Ministry of Housing and Land Development for the transfer was made before 9
June 1997
- There shall be levied, on the registration of a deed of transfer or a deed witnessing the transfer of
leasehold rights in State land
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