Institute of chartered accountants of India to hold conference on real estate income tax and service tax provisions

INDORE: The Institute of chartered accountants of India is organising a one day conference here on March 1.
Indore CA branch chairman, Manoj P Gupta, said that various provisions relating to service tax, income tax which are applicable to real estate business would be discussed in the conference by the eminent chartered accountants of Mumbai, Bangalore and New Delhi.
Tarun Ghiya from Mumbai, Madhukar Hiregange from Banglore, Amarjeet Chopra from New Delhi and Chetan Dalal from Mumbai will express their views on real estate taxation in the conference.
Media in-charge Rajesh Mehta told that the special guest of the programme will be— BL Jain, vice chairman, state planning commission, and the conference will be addressed by ICAI New Delhi, vice president, Manoj Fadnis. Chartered accountants of Indore, Madhya Pradesh, Chattisgarh, Rajasthan will participate in the conference.
Talking to ToI, Mehta said, “Suppose a realtor sells off his property at a price, less than that of the guideline rates, then the government will be charging tax at the rate of 30% on the balance amount”.
It is why the CA branch wants to create an awareness among the assesses on the crucial point, said the spokesman.