kirankumar v. bhatt (LEGAL EXECUTIVE) 12 August 2012
I purchase one 2BHK flat i book this property 31.3.2012 and give token money same date. right now i take possession on date 26.6.2012.
Now builder demad me service tax different amt he ask me you pay s.t. as per new rules (effect from 01.04.2012)
Please give me information which rate of s.t. applicable me?
Regards,
kirankumar Bhatt
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 12 August 2012
as service tax is increased from 10% to 12%, we will pay 2% more on the bill amount. This will add up to a good enough amount in whole year even though it does not bite you in small installments. Surprise! – Be ready to pay more for your Life Insurance and Health insurance premiums also, because we pay service tax on the premiums too.
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TDS @1% at the time of real estate sale above 50 lacs A lot of people will cry hearing this one and will not appreciate this move by govt, but it’s for good. As per this budget, now whenever you sell your residential flat/house/plot (any kind of real estate) and the selling price is more than 50 lacs, you will have to compulsorily pay TDS @1% . This is actually a big problem, because it might happen that even though the sale value is above 50 lacs, but after indexation and your decision to use the funds in next house purchase, your overall tax out of the transaction might be Zero, but still you will have to pay 1% TDS. So in worst case you will have to claim that tax amount back by filing a return. Note that property registration will not be permitted without proof of deduction and payment of this TDS , so you cant escape it, in case you thought you thought you will escape somehow. All the registration offices across the country will be following this one. |
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