Tax on flat sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2015
Dear All
please clarify on tds on property sale above rs. 50.00lakhs.
if a customer makes agreement of for purchase of flat for rs.65,00,000/-(sale deed not yet happened only agreement done) and he pays the amounts in installments.Now i have a doubt that is it necessary to deduct TDS from each installment he pays or tds should be deducted on last payment when the sale deed happens.
please clarify on tds on property sale above rs. 50.00lakhs.
if a customer makes agreement of for purchase of flat for rs.65,00,000/-(sale deed not yet happened only agreement done) and he pays the amounts in installments.Now i have a doubt that is it necessary to deduct TDS from each installment he pays or tds should be deducted on last payment when the sale deed happens.
18 March 2015
You have to deduct in each installment.
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