On property sale by builder, is there any service tax on the builder? If so, brief summary please.
3 Replies
@rinssss
(ca)
(119 Points)
Replied 15 June 2013
I dont think so only Capital Gains arises under INCOME TAX Act. Service Tax is applicable when there is any service is provided by service provider to service receiver. However if such sale of property is made via broker/propery dealer than service tax gets attracted.
Nirav Worah
(CHARTERED ACCOUNTANT)
(396 Points)
Replied 16 June 2013
If whole consideration is recieved after the receipt of completion certificate then there is no service tax liability and it is a pure sale trasnsaction.
abanerji
(81 Points)
Replied 16 June 2013
| Originally posted by : Nirav Worah | ||
 |
If whole consideration is recieved after the receipt of completion certificate then there is no service tax liability and it is a pure sale trasnsaction. |
 |
Thanks Nirav, for your response. Rightly mentioned by you. I think the operative phrase is "under construction property", which attracts ser-tax.
Wish you the best for your exams.
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