Some of the problems faced by Builders, construction contractors and developers
i. A lot of problems may arise in case of builders and contractors as provisions and composition scheme are not clear. Detail working has to be made before selecting any method. For example – A builder is constructing a building of seven floor and above, having sanctioned 25000 sq. ft, is liable to pay Rs. 4,65,000/- @ 18.60/-...
Friday, March 28, 2014
Wednesday, March 26, 2014
Answers to Question for Study
Had posted some questions on LBT for study as to test knowledge. Here are the answers to those questions.
Answers contributed by +Kishor Lulla
1. A has imported goods & sold goods to B who is in corporation area. B has taken the delivery of goods (or entry of the goods by B). Who is liable to pay LBT? (S.2 (31A) ).
Ans – A is liable.
2. (a). Whether software downloaded by a dealer inside corporation...
Sunday, March 23, 2014
Questions for Study
Test your Knowledge of LBT by answering to these questions.
1. A has imported goods & sold goods to B who is in corporation area. B has taken the delivery of goods (or entry of the goods by B). Who is liable to pay LBT? (S.2 (31A) ).
2. (a). Whether software downloaded by a dealer inside corporation limit which is purchased from a dealer outside corporation limit is liable to pay LBT? (S.2 (31A)).
...
Thursday, March 6, 2014
LBT Accounting now in Tally
Recently Tally updated it's most popular accounting software - Tally ERP to 4.8 version, This version among other new features incorporated LBT Accounting into the software.
In this post, I shall explain how to enable this new feature in Tally and also what...
Wednesday, March 5, 2014
No LBT withdrawal in State budget
Maharashtra Government disappointed taxpayers by not withdrawing LBT against which traders across State had been agitating since almost a year and although Chief Minister had assured traders that appropriate remedy would be sought shortly has failed to address this grave situation suppressing State traders from growth, which is hitting extremely hard in existing global economy slow down.
J. P. Sharma, president and Tejinder...
Sunday, March 2, 2014
Blog Viewers crosses 100000
No of page views as on 02/03/2014 20:12
Thank You ,
to all Visitors of LBT Thane to make this blog achive 1,00,000 viewership.
We are proud to announce this news, as in just 10 months we could server such a large number of visitors and taxpayers.
This...
Comparing LBT, octroi data unearths huge evasion
The Nagpur Municipal Corporation's (NMC) local body tax (LBT) department has unearthed its biggest-ever evasion case, netting a big pharmaceutical company. The department also caught an iron small scale industry for evading LBT. The two cases were unearthed by comparing data of octroi and LBT.
NMC sources told TOI many big traders evading LBT are set to come under the scanner in the coming days. "LBT department led by assistant...
Saturday, March 1, 2014
NMC awaiting revision of LBT rates
The Nagpur Municipal Corporation (NMC) has asked the state government to revise the rates of local body tax (LBT) on seven products. However, the revision has been sought citing flaws in the rates schedule only. Though facing a huge revenue deficit, the civic body has not proposed revision in the rates of major products.
Municipal commissioner Shyam Wardhane had sent the proposal before December end and a decision from the state...
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