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- Stamp duty is 5% of agreement value or 5% of ready reckoner whichever is higher. Check your agreement value and multiply it by 5%.
Registration is 30000. Generally these two added amounts will be shown to you as stamp duty.
Stamp duty ready reckoner is considered the time you actually pay stamp duty so doesnt matter when you booked.
VAT is 1% of agreement value.
Service tax is 3.09% , applicable only for U/C flats.
Generally Stamp duty + Reg + VAT + Service tax will come approx 10% of your agreement value if you pay everything by cheque. So check your agreement cost, and calculate above values. it shall be 10%.CommentQuote0Flag
- Thanks Ashwamedh for quick informationCommentQuote0Flag
- Query for VAT and Service tax
I brought under construction property in Jan 2015. and Paid service tax to govt. and made the registration. This amount I claimed in Sec 80C in 2014-15 year. My VAT is remaining and I haven't paid that yet to Builder and planning to paid the same in current financial year in January 15 time-frame.
May I know can i get the benefit of this VAT amount under sec 80C income tax act. for current 2015-16 financial year.CommentQuote0Flag
- Is Service Tax Applicable on a Property Bought in 2011?
I bought one room kitchen flat in Warje area.
The agreement was done in June 2011 and the possession was given in Feb 2012.
Am I required to pay service tax for this transaction?CommentQuote0Flag