09 July 2013
If I have purchased a property aggregating to rs. 7.5 cr. For which payments of Rs. 4 Cr have been made before 1.06.2013 and no agreement for sale has been made till date. Question is whether TDS has to be deducted on full consideration of Rs. 7.5 Cr or only on balance Rs. 3.5 Cr.
09 July 2013
In my opinion, TDS should be applicable on balance amount(i.e. Rs. 3.5 crores), since the new section 194-IA is not restrospective.....in fact, it is applicable for transactions, which are due & received post 01- June-2013
CAclubindia
