POSTED BY February 12, 2014 9:23 pm COMMENTS (2)
ONRecently I had purchased new flat in Pune with base cost Rs: 59 lac and stamp duty was 6%, VAT 1 %, Service Tax 3.09 % and Registration Rs: 30000/-
Builder is asking to pay 2% (1% LBT and 1% TDS) as this was mentioned in total cost but I am not sure that these taxes are applicable for new flats.
My home loan amount is 53 lac, so can you please advice me that I have to pay these taxes or not ?
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Thank You Ashalanshu for your quick response 🙂
Dear Bhaleraosa, actually you need to pay 1% TDS from the builder’s amount which is 59000 Rs. The LBT is a state tax which you w’d have to pay subject to T&C of LBT.
Thanks
Ashal