Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 May 2014
Dears,
there is two properties in the name of our boss purchased from the same company on same time but property value is 39.30lacs each. now the installment has been due of rs.3.30 lacs. it is need to deduct tds on the property transaction but i am confuse that i do consider both value or separate value for TDS depositing because it is compulsory the property value should be 50 lacs or above.
kindly advice that i deducted tds to consider both property. if i do not consider both properties then no tds will be applicable on it.
there is two properties in the name of our boss purchased from the same company on same time but property value is 39.30lacs each. now the installment has been due of rs.3.30 lacs. it is need to deduct tds on the property transaction but i am confuse that i do consider both value or separate value for TDS depositing because it is compulsory the property value should be 50 lacs or above.
kindly advice that i deducted tds to consider both property. if i do not consider both properties then no tds will be applicable on it.
Nikhil Kaushik
(Expert)
02 May 2014
you need to separately consider each property. since the value of each property is less than Rs 50 lakhs, no TDS should apply.
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