Tds on immovable properties
This query is : Resolved
28 May 2013
Dear All,
As per Sec. 194 IA subsection 2 applicable w.e.f. 01-06-2013, no TDS is required to be deducted where consideration for transfer of immovable property is less than fifty lakhs.
In this case, the property of 60 lakhs, however it is being purchased in joint names, each of the co-owner contributing Rs. 30 lakhs for his own share and the same is being registered after 01.06.2013.
Is TDS required to be deducted?
As per Sec. 194 IA subsection 2 applicable w.e.f. 01-06-2013, no TDS is required to be deducted where consideration for transfer of immovable property is less than fifty lakhs.
In this case, the property of 60 lakhs, however it is being purchased in joint names, each of the co-owner contributing Rs. 30 lakhs for his own share and the same is being registered after 01.06.2013.
Is TDS required to be deducted?
28 May 2013
no required due to each individual recd less than 50 lacs
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Value of property in capital gain
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- E-Invoice applicability for new Startup
- 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
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
