Ration in which TDS on Property to be deducted & paid
This query is : Resolved
02 March 2023
Sir,
Mr A & Mrs B both purchased an Office & agreement registered on 15/2/23 for Rs 70 lacs. The Ready Reckoner Value of which is Rs 75,10,000/-.Mr A has paid Rs 39 lacs & Mrs B has paid Rs 31 lacs respectively for the said office.
My query is whether TDS on Property Rs 75,100/- is to be paid as follows
Rs 39,000 +2841 = 41,841/- by Mr A or 37,550 /-(equal share)
Rs 31,000+ 2259 =33,259 /- by Mrs B or 37,550/- (equal share)
---------
75,100/-
( on bal Rs 5100 (75,10,000 (-) 75,00,00 in the ratio of their investment 39 lacs :31lacs ie 55.71% or 44.29%
Please clarify what amount of TDS on Property Mr A & Mr B respetively has to pay.
Regards,
Mr A & Mrs B both purchased an Office & agreement registered on 15/2/23 for Rs 70 lacs. The Ready Reckoner Value of which is Rs 75,10,000/-.Mr A has paid Rs 39 lacs & Mrs B has paid Rs 31 lacs respectively for the said office.
My query is whether TDS on Property Rs 75,100/- is to be paid as follows
Rs 39,000 +2841 = 41,841/- by Mr A or 37,550 /-(equal share)
Rs 31,000+ 2259 =33,259 /- by Mrs B or 37,550/- (equal share)
---------
75,100/-
( on bal Rs 5100 (75,10,000 (-) 75,00,00 in the ratio of their investment 39 lacs :31lacs ie 55.71% or 44.29%
Please clarify what amount of TDS on Property Mr A & Mr B respetively has to pay.
Regards,
02 March 2023
Unless any specific ownership is specified under agreement for both the co-owners, Deduct TDS equally and pay to treasury.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Cheque bounce intimation letter
- Minor - PPF Rules Doubt
- Form 121 of income tax
- Applicability of corporate governance provisions as per the SEBI LODR
- ERROR IN GSTR1 NO SUMMARY GENERATED
- Rectification of TDS return - Sale of property
- 10% pre-deposit for gst appeal
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
