Tds on immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2014
My Company purchase one property amounting to Rs.1.47cr and company make the payment of this amount in three parts without any agreement.
Date amount
1.10.2013 50 lacs
3.11.2013 50 lacs
10.12.2013 balance
in above all payments company has deducted TDS @1%.now while i am depositing these TDS through 26QB, it is asking for Date of agreement/Booking. so can you please guide me, what date should put over in it and also please tell me the meaning of Date of booking for TDS on property.
Date amount
1.10.2013 50 lacs
3.11.2013 50 lacs
10.12.2013 balance
in above all payments company has deducted TDS @1%.now while i am depositing these TDS through 26QB, it is asking for Date of agreement/Booking. so can you please guide me, what date should put over in it and also please tell me the meaning of Date of booking for TDS on property.
20 February 2014
You have to enter into an agreement and as the payment was made on 1.10.2013 it cannot be on verbal assurance and stamp duty has to be paid on it. So the day on which stamp duty is paid and registration is done then the property is transferred. So put the date of first payment.
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