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Tax on flat sale

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 February 2013 As per development agreement some flats allotted to me & i would like to know that, who will liable to pay VAT & Service tax on these flats sale? (Developer or land owner)
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CA Himanshu Kansal

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CA Himanshu Kansal (Expert)
16 February 2013 The query is not clear in respect to which tax?
But if the query in relation with Income Tax then, the person which can transfer the title and possession of the property legally, is liable for capital gain tax.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 February 2013 Sorry, actually it is regarding VAT & service Tax.
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CS RAJESH C.CHOUDHARY

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CS RAJESH C.CHOUDHARY (Expert)
16 February 2013 According to my view, Ya it is paid by the Purchaser of Flat from the builders.
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