Hi Team,
we have recently brought a flat in Bangalore costing about 16 lakhs( under construction property) for which we have paid 8 lakhs and remaining 8 lakhs we have planned to go under loan.
Still the builder has not yet registered the land from the seller but is already asking us to pay service tax of 8.5% for the amount paid. Please help me on this on priority. Do we have to really pay this tax before registration?
Reason we got to know is this tax will show that we have paid the cash legally also would help them for land registration or else they would have to release the flat under our name.
Please help me on priority.
Thanks in advance.
Regards,
Veeru