What are the taxes that I need to pay before buying a property?
TownSIP Research ~ 15 min read
The buyer needs to pay the following taxes:
TDS or tax deduction at source on amount exceeding Rs 50 lakhs for the purchase of property excluding agricultural land.
Stamp duty and Registration charges.
GST – Applicable if the property is being purchased from the builder who conceived and constructed the project before offering possession to the buyer. If a ready to move in’ property is purchased from the seller, GST is not applicable.
Value Added Tax (VAT) – If applicable in the concerned state.