Auction notices sourced from published bank, NCLT and government listings
Guide
The winning bid is not the final cost. Plan for tax and registration charges on top before you set your bid ceiling.
For immovable property above the threshold in the Income Tax Act, the buyer deducts TDS on the consideration and deposits it. The notice often states how the deduction must be handled.
Confirm the treatment in writing with the authorised officer, because deposits made to the wrong account are painful to correct.
Land and completed residential buildings are generally outside GST, while plant, machinery, vehicles and scrap lots are usually taxable. Liquidation sales of movable assets commonly carry GST.
Read the tax clause in the notice; the reserve price may be quoted exclusive of tax.
Stamp duty and registration fees follow the state rate and are paid by the buyer on the sale certificate. Add them to your total cost, along with any pending property tax or society dues that transfer with the asset.
