09 March 2024
If any individual constructed their personal property and buy the Marbles and Stone direct to seller without any contract and his value is exceed Rs 50 Lakhs, Is they are liable to deduct the TDS on Seller. Kindly Clarify with section(if Yes).
There are some points to be followed by Individual.
* Construction contract with different Vendor. * Individual Directly Buy the Marbles and Stones from seller for their Constructed Property. * Amount Exceed over 50 Lakhs * Individual are not in the criteria of audit U/s 44AB or AD * They have Giving their GSTIN to Seller but Property not used in any Business which are constructed and he is not taking any input and not treating as a B2B. But Seller Issuing B2B Invoice to buyer.
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