A Builder purchased 5 guntha land in Pune
Gov. Ready reckoner is 20Lakh/guntha for land and 5100/sq ft for flat
Economics of Gov:
Land purchase stamp duty+ registration + LBT
Is 7% =7,00,000/-
Sanctioned plan
Cost is 175/sq ft for development charges + LBT+other cost+noc + under table which is
=5000*175 =875000/-
Builder started booking and did agreement of flats
Flat Purchaser paid stamp duty+registration + LBT
=5000*5100*7%=1785000
Addition
1% vat+3.09 service tax
=1042000/-
Govn. Makes Rs.44,00,000/- from 5 guntha in Pune
Wait
Builder had already paid Rs.31,00,000/-
Income tax for land purchase amount of 1 Cr.
Wait
Land owner who sold land to builder paid
Rs.20,00,000/- for capital gain to Gov.
All in this process after construction work was completed Builder earned profit from this construction site which was Rs.45,00,000/- and paid income tax for this project was Rs.15,00,000/-
Final economics: result of Land transaction is
Builder Earned Rs.30,00,000/- and
Government earned Rs. 1,10,00,000/- ( Rs. One Crore Ten Lakh only) from land 5 guntha cost of which was One crore.
Final result in the minds of public:
Builders are looting People.
In democracy, Govenment Is selected by people.
This is economics of current situation
Wait
Height of all
In the above calculations construction cost is not included wherein GST etc. has to be paid to the Government.
Wait
Addition is assessment fees , GST on raw materials will come @ 20% of the construction cost = 50,00,000. So total will be 1,60,00,000. Now plz dont ask income tax , profession tax , fringe benefit tax of staff ,free gifts to Govt officials… I am already tired of calculations.
Just remember Govt is your partner holding 75% shares without any investment.
😳😳😳
This the ground reality of our tax structure and still "our government" has a very strong feeling that every citizen is a tax evader and it is in his blood to evade all kind of taxes!!!
About Common Man
Common Man! 95% Indian’s soul. I am a Kundalini Yogi & enlightened person. I cannot do any thing except expressing my opinion to remaining Common People. My spirit does not permit me to harm any being, but if any body do harm to Common people; I do air it to the Society to prevent it. I like Muslims who do the prayer of Almighty every day 5 times. However, I hate terrorism on the mask of Jihad. I like Universal love pronounced by Christ, but I hate the policy to denounce the other religious methods. I learned well from the Ramayana and Mahabharata through my mother at the time of my childhood. Lord Rama is in my heart like all Hindus, I am a follower of all political parties, even though I don't support decisions taken by parties against Common People, I hate hereditary politics and chanting leaders I do support the good ideas and proposals from all parties. By birth, I hate corruption. By birth, all people have a right on Natural resources, which are gifts of Almighty, after deaths nothing shall come with you. only a land of 6feet x 3feet at burial ground or 500Kg fire wood can mix all individuals into the Earth or Air, every body know the above universal truth, But I don't understand why Corrupt people are doing so many Frauds to earn lots of money with corrupt practices and directly doing harm to the society and Common People. Government job or people's representative ship is not a license to earn money by corrupt practices, they are taking salaries, and other benefits from people's common fund collected as taxes form all people. Therefore, Prime Minister to attender who is taking salaries and remunerations from common fund is responsible & accountable to people of this country. By chance, you get an opportunity to serve the country, utilize the great opportunity as Almighty gift to earn great fame, which is long living. Do not try to bandit public money by corrupt practices, Almighty shell punish you and your family because you are violating the rules of almighty. I am a harmless citizen who has the right to demonstrate in collective assembly.
D T S REDDY 