Hi Jago Investor Team,

What would be the tax charges for a property in Hyderabad. ( Independent house)

VAT :

Service Tax :

Stamp Duty :

As an example can consider Agreement Value as : 3000000/- and Value as per Sale Deed as 2000000/-.

Also can the builder ask to pay part of VAT as cash and part in Cheque. Also is it advisable and legal to pay amount exceeding 20000/- in cash.
1. Stamp duty : DD amt. Rs. _____/-  in favour of “SUB REGISTRAR .”(6 % on  registration  sale consideration i.e.,Rs. 2000000/-)

2. Sales Tax (VAT): amt Rs. 30000/-  Cash is required forChallan.(1.25% on registration sale consideration of Rs. 200000/-)

3. Remaining Sales Tax( VAT ) : Rs. 13,556/- Cheque in favour of “ABCD Developers”

(Total VAT Rs. ______ /- (i.e 1.25% on agreement value Rs.3000000/- )

4. Service Tax: Rs. ______/- Cheque in favour of ” ABCD Developers”

5. Rs. 10,000/- (cash) for documentation and formalities

Please share your feedback. The amount mentioned in the communication is rough amount, Please let me know if need more information. Thanks.

Regards,

MNB