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What is preferential location?

April 26, 2017location preferential

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What is preferential location?

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The Finance Act does not define the term “preferential location”. For the purpose of this clause its meaning has been assigned as follow: Explanation.—For the purposes of this sub-clause, ‘‘preferential location’’ means any location having extra advantage which attracts extra payment over and above the basic sale price;’. However, Annexure- A of letter no. D.O.F. No.334/1/2010-TRU, New Delhi, dated 26th February 2010 issued by Joint Secretary (Tax Research Unit-II), describes it as follow: (a) prime/preferential location charges for allotting a flat/commercial space according to the choice of the buyer (i.e.