Q:I had bought a bungalow in bungalow society in 2008 and have a registry , full and final payment document once I took possession of the bungalow &index 2 of the bungalow. The builder asked us to get the sale deed done for the property and during the process in saying we need to pay VAT. I want if should be charged for this? Do I need to sale deed is the document set not sufficient that I have
Latest Answer: A sale deed acts as the main legal document for evidencing sale and transfer of ownership of property in favour of the buyer, from the seller. Further, it also acts as the main document for further sale by the buyer as it establishes his proof of ownership of the property.
VAT is a multi-stage tax which is levied at each step of production of goods and services which involves sale or purchase.
The sale deed is executed subsequent to the execution of the sale agreement and after compliance of various terms and conditions detailed in the sale agreement as agreed upon between the buyer and the seller.
