Vat on building premises
This query is : Resolved
Anup Sharma
(Querist)
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
(Expert)
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.
An individual is required to deduct TDS only if his last year turnover exceeds the Tax Audit limit.
MJ Krishnamurthy
(Expert)
15 September 2013
If an already built house is beeing purchased both vat and service tax are not applicable......mjk
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