Tds ans responsibility of deductor
This query is : Resolved
hetal sangoi
(Querist)
26 February 2019
What a deductor must do? whcih section of income tax says .
Nature of transaction of capital gaIn whether it is LTCG or STCG how deduct-or knows while filing return statement of TDS ?
Nature of transaction of capital gaIn whether it is LTCG or STCG how deduct-or knows while filing return statement of TDS ?
VIJAY KUMAR
(Expert)
27 February 2019
Please clear your query with specific inputs.
27 February 2019
Hetal, If Capital Assets of property of Long term nature sold to an Indian Resident and amount of Registration is above 50 Lacs then TDS @1% to be deducted on the amount of transaction. This is applicable on advances paid also.
CA. Brijesh Baranwal
(Expert)
28 February 2019
Just adding a line in reply of respected Senthil ji...You need to deposit the same on the PAN of deductee and issue him/her a TDS certificate also.
hetal sangoi
(Querist)
02 March 2019
what about if seller is the Non resident
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