TCS on Purchase of Property


This query is : Resolved 

Quick Summary
When purchasing a property with more than one seller, the Tax Collected at Source (TCS) needs to be handled for each individual. You are required to deduct 1% TDS under Section 194-IA of the Income Tax Act from the amount payable to each seller separately.

(Querist)
23 July 2023 My question is if seller is more than one then how i tcs collected and deposited

23 July 2023 When sellers are more than one, you have to deduct 1% TDS u/s. 194 IA IT act, from the amount paid/payable to each of them.

13 September 2024 Good luck.


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