Taxes applicable on sale of flats

Dear Sir,

I want know tax implication on buyer side and on developer side on sale of flates or a built House.

Historical background: Land agreement > booking of flats/houses> advance receipt for built flat/house> remaining payment in 4-5 phases> land registry directly from land  owner to buyer.

Please also sugest what will be a right decision to purchase the land in the name of our company than develop flats and than sale  or to sale flats as per above process.

 

suresh jha

 

 

 

Replies (1)
On development of flats and then selling the same service tax and vat will be applicable.

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