|February 25 2013, 02:31 PM||#1|
Flat registration process, Bangalore
We have booked new flat in bangalore.
ll be doing agreement by giving 20% of property value.
My question builder mentioned
at the time of registration,
we have to pay gov registration amout some x rs and legal charges.
Along with that 7.5% tax on total flat value.
What is this 7.5% tax amount. Is it for builder or government only have to pay while registration.
Please any information.
|February 25 2013, 05:48 PM||#2|
I think its 6% only and not 7.5%.
From Departments of Stamp and registration:-
Agreement relating to sale of immovable property
(i) with possession
(ii) without possession
0.1% on market value equal to the amount of consideration Min.500, Max.20,000
So at the time of agreement you need to pay .1% while at the time of possession you need to pay 6%.
|February 25 2013, 11:08 PM||#3|
Ask builder, Why is he charging this 7.5% tax? He will explain you.
It is (service tax + vat).
There are lot of threads on this forum for the vat+service tax and you may refer them.
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