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Tds on immovable properties

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Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2013 Dear professionals please advise me.......
One of my client have purchased the property and make the payment of Rs 30 Lacs in previous year but there were no transfer of property because the property were under construction, now he will pay the balance payment i.e 25 lacs on 20/06/2013 including service tax and the possession transfer to him, now suggest me whether he should deduct the TDS or not?????????????
what would be the amount on which TDS should be deducted????????????????

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 June 2013 i) Amount credited in vendor's account ie., Rs.55 lacks, is prior to the enforcement of the section.

ii) Amount paid after the enforcement is less than the threshold limit.

Hence deduction under section 194IA will not apply.

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