Deduction of tax on purchase of immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2013
Dear Sir,
I have purchased a immovable property and paid the consideration to the co owners of the land but they dont have PAN.
so what i have do now?
Thanks in advance..
I have purchased a immovable property and paid the consideration to the co owners of the land but they dont have PAN.
so what i have do now?
Thanks in advance..
11 June 2013
This is a violation of 194IA if happened on or after 1/06/2013 and the consideration is Rs. 50 lacks or more. Tax should have deducted 20% as per section 206AA in the absence of PAN.
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