Tax on flat sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2013
As per development agreement some flats allotted to me & i would like to know that, who will liable to pay VAT & Service tax on these flats sale? (Developer or land owner)
16 February 2013
The query is not clear in respect to which tax?
But if the query in relation with Income Tax then, the person which can transfer the title and possession of the property legally, is liable for capital gain tax.
But if the query in relation with Income Tax then, the person which can transfer the title and possession of the property legally, is liable for capital gain tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2013
Sorry, actually it is regarding VAT & service Tax.
16 February 2013
According to my view, Ya it is paid by the Purchaser of Flat from the builders.
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