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GOODS AND SERVICES TAX Ready ReckonerTally Solutions Pvt. Ltd1TABLE OF CONTENTS2Introduction to GST .....................................................................................................................................

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How to fill out ready reckoner

01

Step 1: Start by gathering all the required information, such as the current market value of the property, annual property tax rate, and any applicable deductions or exemptions.

02

Step 2: Calculate the total value of the property by multiplying the market value by the assessed value ratio.

03

Step 3: Determine the base tax amount by multiplying the total value of the property by the annual property tax rate.

04

Step 4: Apply any applicable deductions or exemptions to the base tax amount.

05

Step 5: Calculate the final tax amount by subtracting the deducted or exempted amount from the base tax amount.

06

Step 6: Fill out the ready reckoner form by entering the property details, the final tax amount, and any other necessary information.

07

Step 7: Review the filled-out form for accuracy and completeness.

08

Step 8: Submit the filled-out ready reckoner form to the relevant authority or department responsible for property tax assessment.

Who needs ready reckoner?

01

Homeowners who want to calculate their property tax liability accurately.

02

Real estate agents or professionals who need to estimate property taxes for their clients.

03

Buyers or sellers of properties who want to know the approximate tax amount before making a deal.

04

Property investors who want to evaluate the potential returns and expenses associated with a particular property.

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What is ready reckoner?

Ready reckoner is a document used for calculating or providing guidance on property prices for tax purposes.

Who is required to file ready reckoner?

Property owners or individuals involved in property transactions are required to file ready reckoner.

How to fill out ready reckoner?

Ready reckoner can be filled out by providing information about the property such as location, size, amenities, and other relevant details.

What is the purpose of ready reckoner?

The purpose of ready reckoner is to ensure accurate valuation of properties for taxation purposes.

What information must be reported on ready reckoner?

Information such as property details, transaction value, and other relevant information must be reported on ready reckoner.

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