1% TDS ON SALE OF PROPERTY
This query is : Resolved
06 January 2024
Agreement held in 2010 consideration was fully paid towards purchase of flat for Rs.46,00,000/-Whereas, now registration with the sub-registrar of Rs.1,75,00,000/- whether it is required to make TDS of 1% on consideration.
07 January 2024
Section 194IA of the Income Tax Act, 1961 states that the buyer of the immovable property costing more than ₹50 Lakh will have to deduct the TDS when settling the amount to the seller.
Payment already made no need for TDS now based on registration value.
Payment already made no need for TDS now based on registration value.
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