Service tax- "Land given to builder on conversion"
I am residing in state Jharkhand - Jamshedpur.
I have given a piece of my land to a builder in a conversion basis with a proper Development Agreement done to build residential and commercial place.
My share is coming to 11 residential flats. My question is will i be liable to pay Service Tax on part of flats i will be receiving from builders? If yes, how much , and how it it will be calculated and ALSO please state the clause. Please suggest
Asked 1 year ago in Service Tax from Jamshedpur, Jharkhand
It will be difficult to comment and advise on the said question unless we go through the Agreement entered into between you and the agreement. It is preferable to approach a professional with a copy of the agreement.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
This will require in-depth and thorough reading of agreements and understanding the transaction in details.
Recommend you to take face to face personal advice.
Why dont you see my agreement , i can send it you???
Asked 1 year ago