Preface

Jai Shree Krishna

It gives us immense sense of satisfaction in presenting the book titled "All About Taxation of Residential Properties".

Taxation of Residential Properties has been a part of Taxation laws since long and so far Direct taxes are concerned the legislations are in place, well studied, interpreted and amended from time to time. GST has been implemented in India w.e.f. 1-7-2017 and the transactions in Residential Properties have also been covered in GST. The GST law is a very new piece of legislation and each and every area covered by GST is being subject to frequent amendments and modifications. The Government is also working on this sector with an aim to provide housing for all. Accordingly, frequent changes are being made with respect to income and GST taxation of residential properties. The authors have discussed old and new laws, relevant case laws of Supreme Court and various High Courts, Tribunals and amendments in law, notifications, circulars, clarifications and orders released from time to time, in each topic of the book with visual clarity. We have tried to capture every minute aspect on which there may be some scope of understanding in detail.

The book is divided into seven Parts. The Part One "Construction of Residential House Properties", is complete analysis of taxation on construction of Residential House, Apartments and Construction of property under works contract service. The Part Two of the book is a comprehensive and complete guide to taxation aspects in "Acquisition of Residential Properties". Part Three covers the aspects revolving around "Letting out of Residential House Properties". Part Four covers taxation of "Income from Residential Property" under Income Tax Act. Part Five mainly deals with "Deductions/exemptions from income from house property". "Tax planning Hints" are also given in next part.

The GST aspects of Construction of Residential house, apartments and construction under works contract service are covered in Part one,  Part three includes TDS under GST, GST on reverse charge basis and "GST on Resident Co-operative Housing Societies". The next important area from GST perspective i.e., "Renting of residential property service under GST" is covered in Part four of this book.

The authors with vast experience in taxation field academically and practically have put in lot of efforts to elaborate on each topic with complete analysis. Suitable examples and illustrations have been incorporated throughout the book for the guidance of taxpayers. The book is complete in all respects and incorporates all the latest notifications, clarifications, etc. issued on the subject.

We hope the book shall prove to be a very useful source of information, guidance and reference even to Government officials and departments, trade and industry, apart from to practicing professionals, advocates, judges, consultants and students, etc.

Every effort has been made to provide the amended law, correct interpretations of provisions and latest case laws. However, possibility of mistakes and some lapses cannot be ruled out. We request our esteemed readers to bring such mistakes and lapses to our notice wherever the same is noticed.

We will be extremely grateful to receive suggestions and feed back on the book which shall help us in improving our future publication.

Accompanying free website support comprises Full Reports of all decisions cited in the text of the book and also includes reproduction of the Circulars, Notifications, instructions, etc., referred to in this book. The change(s), if any, in the subject matter will also be provided on website till 31-12-2020.

Disclaimer: The subject matter of the book is updated on the lines of Finance Bill, 2020, which we have treated as Finance Act. In case there is any changes while passing the Finance Bill, 2020 the same will be provided on our website.

JODHPUR	Dr. AVADHESH OJHA
15 FEBRUARY, 2020	CA AJAY JOSHI