Tds in case of jointly purchased property
This query is : Resolved
05 December 2024
In case property purchased worth Rs.70 lacs by husband and wife jointly. will TDS deduction be applicable ????as individual limit will be below 50 lacs(i.e. 35 lacs)
05 December 2024
If the total consideration paid by all buyers exceeds INR 50 lakhs, TDS must be deducted, regardless of whether each buyer's individual contribution is below this threshold. For example, if two buyers each contribute INR 35 lakhs towards a property worth INR 70 lakhs, both are required to deduct TDS on their respective payments.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Transporter Declaration form
- Value of property in capital gain
- Tds UNDER SECTION 195 INTEREST PAID TO NRI DIRECTOR
- Clarification on TDS Applicability
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
