Can anybody Explain me the Tax liability on sale of Flats as Builders prospective also from Buyers prospective
Menu
Taxation on sale of flats
Replies (2)
If seller is a builder than its a business income bcoz its a asset held for sale i.e. Stock and 1% vat is also leviable and vat return shall b submittd in form 17
From buyer's perspective it would be a Capital Gain in the hands of buyer on sale of the property & CG tax @ 20% is to be paid on the Capital Gains subject to investments made.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
