kumar neelabh (MANAGER) 26 January 2011

Service tax on resale property

I have bought a flat in Pune and the possession will be given to me in 10-15 days , i have a home loan and all payment for the flat has been made to the builder. I have paid a service tax of around 5000 as i made had made most of the payment before Srvc tax was applicable.

I want to sell this flat now , i want to know if service tax will be applicable when i sell my flat. i have not received the completion certificate yet.

Also what other tax is applicable apart from Income tax.

Thanks

neelabh

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1 Replies

Freer (xbcbx) 27 January 2011

The government however has now said that any exchange of money from the consumers to the developers will be charged as service tax, which means all properties that are really under construction where the title has not transferred yet from the developer to the consumer will also be charged service tax....

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