Whether construction of building for the purpose of giving it on rent will be covered by the said clause?
The Explanation specifically refers to the cases where the builder is collecting money as advance from the prospective buyer. The builder is required to have the intention of selling the proposed building. If the builder is not having the intention of selling it, the question of applying the provision does not arise. In this case, the builder is building the property for his requirements and will remain the owner of the said building. Hence, there is no question of paying ST.
Related Questions
- At present the clause relating to residential complex is applicable to a building having more than twelve residential units. Whether the said condition will be still applicable?
- If a freight elevator in a building with covered dwellings is the only elevator provided, is the building covered by the design and construction requirements?
- Economy is very important in warehouse construction for lease purpose. Will Vardhman Building Systems deliver the goods taking this aspect into account?
