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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

Rupesh Jain

Rupesh Jain (Expert)
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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.

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