Dear All,
My Client is booked a flat of Rs. 2,45,00,000/- on January 2011. As per the condition of TDS on property 1% is started w.e.f 1st June 2013 the flat is under contraction. In these flat 50 lacs Bank loan also sanction and bank will pay the slab wise payment to builder after there demand.
My Query -
1. It is right to deduct the TDS i.e. 1% whenever bank make payment to the builder?
2. How much total TDS will deduct it should be calculate on total Agreement amount?
3. On April 2015 & July 2015 Bank paid the amount to the builder but my client not deduct the TDS. If will paid the TDS now only late payment interest is charge or there is any penalties also.

Thanks & Regards
Rateesh

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Dear Experts My query is

We have purchased a old company . Remodeling that company Some of Fabrication work is doing ,make a payment for fabrication work purpose.
We do not deduct the TDS. TDS applicable on fabrication work.

Please clarify

Thanks & Regards
Siva.

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Please suggest Me

should the curtain n fabrics be shown as Furniture n fixtures???
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or else it should be written off as revenue exps. in current year.
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