Immovable property TDS

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If you've bought multiple properties, each valued under £50 Lakhs, from the same seller, TDS (Tax Deducted at Source) is generally not applicable to the total sum. However, it's crucial to have documentary proof of each individual sale agreement, especially if the tax department makes inquiries. This ensures you can demonstrate that each property fell below the £50 Lakhs threshold individually.

Naresh Lama

Naresh Lama (Querist)
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12 April 2021 Purchased 5 properties below Rs. 50 Lakhs each from same seller. Now the query is, will we deducted TDS from aggregate figure which is in excess of Rs. 50 Lakhs?

CA. Aditya Goel

CA. Aditya Goel (Expert)
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12 April 2021 TDS to be deducted if value property purchased exceeds 50 Lakhs.
if there are actually 5 properties and all valuing below 50 lakhs individually then no TDS to be deducted.
but documentary evidence of all these purchases should be available in case Department questions.

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Naresh Lama

Naresh Lama (Querist)
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13 April 2021 Thank you... transaction are in actual and all five sale agreements are already executed.

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