What are the current rates for the different property taxes that need to be paid?

March 25 2015   |   Administrator

TDS- 1% on immovable properties (except agricultural land) exceeding Rs 50 lakhs.

Stamp Duty - Depending upon  state and municipal laws

Service Tax- It is a central tax paid for the services offered by the developer to you.  From April 1, 2015 onwards, if the apartment is worth less than Rs 1 crore, or has a floor area less than 2000 sq ft, the service charge levied is 14% on car parking and preferential location charges (PLC) and 3.50% on the basic sale price.  If the apartment is worth over Rs 1 crore, or has a floor area greater than 2000 sq ft, the service tax levied is 14% on car parking and preferential location charges (PLC) and 4.2% on the basic sale price of the flat.




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