Tax on Purchase of New Land

GST is not applicable on sale of land. Stamp duty would apply.

Land or building sale / purchase out from gst era . stamp duty applicable

Thanks for your response, Just wants to know any advance tax we have to pay... against the purchase of property...

You need to pay tds

Originally posted by : Umesh Bhise
	Thanks for your response, Just wants to know any advance tax we have to pay... against the purchase of property...

If you are referring to advance tax under Income Tax, then no. Tax will be paid only on income earned.

Further, as already pointed out by Renu Sharma, you need to deduct tax at source u/s 194IA on satisfaction of certain conditions.

Yes TDS is to be deducted

Can u explain tds credit system in bought/ sale of property such as land and building?

It treat as most competent matter in the Gst region than on the vat system.

Tds paid in the vat region for registration ,may get tds credit in the gst tds system for further dealing of same property ?
I request to experters that to express ur attitude in this regard.

TDS u/s 194IA referred in the above reply to the query is under Income Tax Act

Can u explain tds in gst instead of tds in IT Act