I am planning to buy a flat in a residential appartment. Its a first sale. Suppose the Govt value of the flat is 25 lakhs and the sale value is 40 lakhs. How much tax will the Builder(Seller) need to pay on the amount above the govt value. Thats (40L - 25L) 15 lakhs. Whats the tax slab??
Should i pay registration and stamp duty on 25 lakhs (Govt value) or 40 lakhs (sale value)?