Need A Financial Product › Forums › Tax Savings › Composition scheme for contractors and builders? › Composition-scheme-for-contractors-and-builders_REPLY
September 12, 2014 at 3:43 am
#47325
samkapoor77Keymaster
Under local body tax, a separate composition has been specified for builders and contractors undertaking construction in the limits of the city. In terms of the said scheme, the contractors and builder are obligate to pay local body tax as follows.1) INR 100 per square meter for construction up to four floors without lift. 2) INR 150 per square meter for construction up to seven floors with lift. 3 INR 200 per square meter for the construction above seven floors.