TDS Deduction on Purchase of Property
This query is : Resolved
Sudheer gupta
(Querist)
07 July 2020
Dear Sir,
If a property costs Rs. 1.00 Crore, but it has 5 five Partners having the share of Rs. 20.00 Lacs Each. And the property has no partition. In this case how one could deduct TDS on Property U/s 194IA @ 1% (0.75% - As Per Covid-19 Rule).
In this case TDS will deductible or Not??
Note : Property will purchase through single registry.
If a property costs Rs. 1.00 Crore, but it has 5 five Partners having the share of Rs. 20.00 Lacs Each. And the property has no partition. In this case how one could deduct TDS on Property U/s 194IA @ 1% (0.75% - As Per Covid-19 Rule).
In this case TDS will deductible or Not??
Note : Property will purchase through single registry.
07 July 2020
https://www.caclubindia.com/experts/tds-on-purchase-of-immovable-property--2796564.asp
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