Tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 December 2014
TDS u/s 194IA
1% on transfer of immovable properties if payment in excess of Rs.50,00,000
My query is whether TDS is deductible if
Sale consideration is 54,89,923.00
(Rs.4886012+Service tax 603911)
i think TDS is not deductible because service tax is not income of seller so payment is less than 50 lakh
1% on transfer of immovable properties if payment in excess of Rs.50,00,000
My query is whether TDS is deductible if
Sale consideration is 54,89,923.00
(Rs.4886012+Service tax 603911)
i think TDS is not deductible because service tax is not income of seller so payment is less than 50 lakh
29 December 2014
Tds is not applicable on Service tax amount as per circular no 1/2014 as duly issued by cbdt.
Hence if service tax amount is excluded then the sale consideration is below 50Lkahs as required for dedcuting tds u/s 194IA so in my view no tds is deductible.
Hence if service tax amount is excluded then the sale consideration is below 50Lkahs as required for dedcuting tds u/s 194IA so in my view no tds is deductible.
Rupesh Jain
(Expert)
29 December 2014
TDS NOT INCLUDE FOR TDS.
BUT IF THE SALES PRICE5 5489233/- WRITE IN SALES DEED THEN YOU HAVE TO DEDUCT THE TDS OTHERWISE REGISTRING AUTHORITY NOT REGISTER THE PROPERTY IN BUYER NAME.
BUT IF THE SALES PRICE5 5489233/- WRITE IN SALES DEED THEN YOU HAVE TO DEDUCT THE TDS OTHERWISE REGISTRING AUTHORITY NOT REGISTER THE PROPERTY IN BUYER NAME.
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