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Tds on immovable property


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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 if one person has given power to sell his property to another person say agent but agent is not getting commision then another person (agent) has received money from sale of house and returned to that person without deducting tds
there in case another person also should deduct tds 1%
or only purchaser should deduct 1% tds

29 November 2014 only the purchaser shall have to deduct tds and then remit only the bal sale considertaion to seller

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 but sir seller is not selling his property directly he has given power to another person say builder and builder is selling to other person
other person has deducted tds @ 1%
so no need to deduct tds 1% by builder
am i correct .....




29 November 2014 yes but law is clear then agent has to get a certficate from the buyer for tds deduction in name of seller......

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 is certificate requirement is as per law procedure.....
and sir purchaser will file form 26QB i think den seller name automatically will appear

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 after filing of form 26QB. certificate from purchaser in the name of seller still required

29 November 2014 filing of form 16B is also required to be done.

29 November 2014 https://www.caclubindia.com/articles/tds-on-immovable-property-17688.asp#.VHl63tKUffI


refer this link




29 November 2014 https://www.caclubindia.com/forum/details.asp?mod_id=268528&offset=5#.VHl6btKUffI

also for detailed discussion check this link

29 November 2014 buy deduct the tds in sale proceeds exceed rs. 50 lcas.

agent also doing the work on behalf of the owner. so but will deduct the tds.

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 December 2014 but rupesh sir why agent will deduct tds, only 1 property sold out how can we deduct tds 2 times.
Tds transcation is between buyer and seller...



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