tax exceptions

Exceptions to payment of Luxury Property Tax

Question: What are the exceptions to payment of luxury property tax?

Answer:

The following are the exceptions to the payment of luxury property tax

a) A residential house with completion of construction before the first day of January 2001.

b) An existing residential house which is owned by a person on the basis of opening of inheritance before coming in force of this Act.

c) A residential house or part thereof, owned by a widow by way of inheritance and used for her permanent residence, provided that if the widow owns more than one residential house liable to tax, she shall be entitled to exemption only in respect of one residential house.

d) Residential house used for some other permissible use after compliance with applicable law and during such period of compliance.

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