Property Taxes, VAT, Service Tax, Stamp Duty

POSTED BY munjalbarasara ON October 29, 2013 10:10 am ONE COMMENT

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

 

One reply on this article “Property Taxes, VAT, Service Tax, Stamp Duty”

  1. ashalanshu says:

    Dear MNB, go ahead but make sure that you are getting receipt of each payment done by you be it in cash or cheque.

    thanks

    Ashal

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