VAT is a sales tax on the “agreement for sale” between builder and buyer. .Maharashtra government has issued a notification on the imposition of 1 per cent value added tax (VAT) on the contract price of flats mentioned in the agreement of sale registered on or after April 1.
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One percent VAT imposed by Maharashtra on flat sale !
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Read 34 Questions & Answers on TDS By CBDT
January 20, 2009 by taxworry
For the benefit of readers, circular No 715 dated 8/8/1995 which answers general questions are given. When in doubt about an issue for TDS about 194C,194A,194J and 194K, refer the following questions & answers “119. Clarifications on various provisions relating to tax deduction at source regarding changes introduced through Finance Act, 1995 The Finance Act,...
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