18 December 2013
I have one query on TDS on sale of property. The details are given below:-
This is resale property
Total value of property Rs.1.50 Crores Payment to be made to Rs.1.00 Crores Payment to be made to builder in installments Rs.0.70 Crores (Construciton linked)
Now we have entered into agreement with the seller for transfer of property and payment of Rs.1.00 crores is to be made ( Rs.0.80 crores paid by seller & 0.20 crores profit)
What would be the amount on which TDS is to be deducted and what would be the TDS applicability on the payment of Rs.0.70 Crores to be payable to builder in future installments.
CAclubindia
