Hi
I booked a flat in underconstruction property in May 2013, i paid initial 20% amount to builder.
After that whenever i used to get demand letter from builder, i forwarded the same to my bank from where i took loan. The bank used to issue the check for the same amount. I didn't instructed bank to deduct 1%TDS as i was not aware.
Now i received possession of the flat in April 2015.
THe questions i have is :
1. How the sale value of flat is decided? Does it include registration etc, or the amount only paid to builder, including maintainence, parking space etc. Or its just per.sq.feet rate * super built up area.
2. Now i have not deducted the tax, and builder is not going to reimburse me the amount. What should i do?
3. I have read somewhere that if builder has already paid the same from his side, i can get waiver for penalty fees that is Rs 200/- per day. I only have to pay the interest due.
Please help me with the same.
CAclubindia
