Audit Reports

As per Rule 114B of Income Tax Act, 1961 (Mandatory quoting of PAN) sal e/purchase of immovable property above ` 5 lakh required quoting of PAN while registering the property. Scrutiny of the database of SAMPADA application rev ealed that out of 1,49,750 instruments of immovable properties.........

The Board was end owed with the right to acquire and hold movable and immovable property. 3.1.2.1 Status of the Board There was initial confusion over the status of VYAP AM, whether it was a Government Department or not. This was demonstrated by the notification of 1982 wherein the State.........

No. Categories Number of cases Amount (` in crore) 1. Non/short recovery of stamp duty and registration fee due to  undervaluation of immovable property  misclassification of sale deeds into collaboration agreement/instruments  non -charging of residential rates on purchase of land 529.........

4 Excluding share of GIA. 5 Other taxes include taxes on immovable property other than agricultural land, taxes and duties on electricity and agricultural income. Audit Report on State Finances for the year ended 31 March 201 6 10 category States (Appendix 1.1) . The State’s own tax revenue (.........

fitting out, improvement , repair, manufacture, processing, fabrication, erection, installation, mod ification or commissioning of any movable or immovable property. Assessment of works contracts is done under Section 6 of the Act. The works contractor can opt for compounding scheme under.........

section 142 further empowers department to take coercive actions such as deducting any amount payable to the defaulter, restraining any movable or immovable property or referring the case to distri ct collector for recovery of the dues as if it were an arrear of land revenue. (iii) The process.........

Renting of immovable property was made taxable w.e.f June 01, 2007. However, the Coiporation did not take note of the change in the tax structure to either amend existing agreements or to ensure that agreements entered into after that date had provision for inclusion of service tax to 28 The.........

in 15 cases pertaining to six states 105 . 6.6.8 Non maintenance of fixed assets register, cen tral database of immovable assets, etc. 6.6.8.1 Rule 190(2)(i) of General Financial Rules requires that separate accounts shall be kept for fixed assets such as pla nt, machinery, equipment,.........

5. Cer\fifica\fes \fo o\fher C\bs\foms /C.E forma\fions awai\fing reply. 6.Awai\fing sale of movable/ immovable proper\fy. 7.Cases where fac\fories are r\bnning /opera\fional and asse\fs are available. 8. O\fher recoverable arrears. 1.Cases where \bni\fs have been closed. 2.Cases in which.........

section 194-IA of t he Act 108 cases, where the ITD failed to notice the default of tax deductors w ho were liable to deduct tax at source on sale of immovable property. This is d espite the fact that the information on the transactions of sale/purchase of immovable property exceeding ` 50 lakh.........