Servies tax on flat

Querist : Anonymous (Querist) 03 January 2012 This query is : Resolved
Which tax we have to pay while buying a flat.
I bought a flat in kamothe, near khandeshwar railway station, navi mumbai in the year august 2010 and it is newly constructed building.

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Devajyoti Barman (Expert) 03 January 2012
Where is the property situated? Tax differs from state to state.

ajay sethi (Expert) 03 January 2012
are you buying flat from builder? or in resale?

Querist : Anonymous (Querist) 03 January 2012
I bought a flat in kamothe, near khandeshwar railway station, navi mumbai in the year august 2010 and it is newly constructed building.

Raj Kumar Makkad (Expert) 03 January 2012
You have not to pay any tax for the aforesaid transaction except service tax to the builder.

Had you arranged the purchase amount by way of sale of some another residential premises then you would have been liable for wealth tax.

prabhakar singh (Expert) 04 January 2012
If you have bought directly from the builder
service tax is attracted and if you have bought from a buyer of the builder you are not to pay any tax except stamp duty and registration fees.

M/s. Y-not legal services (Expert) 05 January 2012
make your query clear..

-tom-

soumitra basu (Expert) 08 January 2012
You shall be liable to pay VAT and Service Tax if the Builder demands. Obviously, at the time of registration you have to pay stamp duty at the applicable rate.

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