Levy of various taxes on purchaing flat & payment of it
pooja dedhia
(Querist) 14 May 2012
This query is : Resolved
while purchaing the flat from the builder who is the owner and enter into the regular flat owner ship agreement for sale under provision of maharashtra flat ownership act 1963,from the point of purchaser what points from the point of income tax should take into care while making the payment to the builder?
also from the which section applicable from the point of service tax?
Shonee Kapoor
(Expert) 14 May 2012
Service tax is not applicable for sale of plot.
All expenses could be shown from the known sources and accumulation by the buyer from income tax point of view.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Suhail A.Siddiqui
(Expert) 14 May 2012
there is abatement in service tax i.e. 65:35 reg. Income tax point seller will take care of capital gain tax or business income whatever may be.Being a purchaser u must have white money for the purchase proceed.
Suhail A.Siddiqui
(Expert) 14 May 2012
there is abatement in service tax i.e. 65:35 reg. Income tax point seller will take care of capital gain tax or business income whatever may be.Being a purchaser u must have white money for the purchase proceed.
