02 July 2015
Dear Sir, As per sec 194IA if the total consideration for any immovable property exceeds 50lakhs then TDS @ 1% needs to be deducted. My query is if say total consideration is 65 lakhs including service tax and service tax is of 5 lakhs then TDS u/s 194IA needs to be deducted on 65 or 60 lakhs???
02 July 2015
CBDT has clarified vide Circular no. 1/2014 clarified that no tax shall be deductible on service tax component comprised in the sums payable to resident, if service tax is indicated separately.
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