SCOPE OF TDS
This query is : Resolved
Quick Summary
Dibyendu Majumder
(Querist)
22 May 2022
Sir,
A developer company purchases a 12 Bigha land, pays the land cost to the landowners & also pays some amount to the persons who occupy illegally in this land, Is any TDS deduction necessary for the payment made to those occupiers & if made in what section & rate?
Please reply urgently
A developer company purchases a 12 Bigha land, pays the land cost to the landowners & also pays some amount to the persons who occupy illegally in this land, Is any TDS deduction necessary for the payment made to those occupiers & if made in what section & rate?
Please reply urgently
CA R SEETHARAMAN
(Expert)
22 May 2022
1% TDS applicable under section 194IA if the both the payment exceed 50 lacs.
Dibyendu Majumder
(Querist)
23 May 2022
But the occupiers are not the legal owner of that property, they are just trespassers Still TDS usv194IA is applicable?
CA R SEETHARAMAN
(Expert)
23 May 2022
Yes, TDS applicable and the entire amount will be considered as capital gains and taxable in their hands.
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