Tds
This query is : Resolved
Jay Parekh
(Querist)
22 February 2014
If a company is in the business of Construction of Residential Complex than if it purchases land worth 60 lac than is ot required to deduct tax @ 1% u/s 194IA ????
22 February 2014
Dear Jay as per sec 194IA any person being a transferee responsible for paying to a resident transferor by way of consideration rs. 50 lakh or more he has to deduct TDS @ 1%. There is no exception to the builder or real estate agent
Message likes :
1 times
Jay Parekh
(Querist)
24 February 2014
Sir, I have made part payment so am i required to deduct TDS on every payment or can i deduct full amount of TDS on the last payment???
Nikhil Kaushik
(Expert)
02 March 2014
you need to deduct TDS on each of the payment at 1% to avoid interest penalties for delayed deduction
Message likes :
1 times
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
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Capital gains in IT returns
- Intimation under section 245
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
