Vat on building premises

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Anup Sharma (Querist)
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14 September 2013 My client is going to buy a new building & a contractor is asking for Vat & service tax on Total flat amount. Is it according to law & can we deduct Tds as my client is buying a Flat ( Building) with a Contractor.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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14 September 2013 In case of payment U/S 194A, 194C, 194H and 194J in respect of individual and HUF, only if Tax Audit is applicable in previous year,TDS is required to be deducted...

An individual is required to deduct TDS only if his last year turnover exceeds the Tax Audit limit.

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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15 September 2013 If an already built house is beeing purchased both vat and service tax are not applicable......mjk

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