Tds on immovable property

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atul kumar goel (Querist)
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27 June 2015 Sir,
If I booked a residential flat having agreement value of Rs.60.00 lacs, of the total amount Rs.25.00 lacs was paid prior to 01/06/2013 , remaining was paid through installments after 01/06/2013 as and when demanded by the builder depending upon the construction progress. The agreement of purchase is dated 15/05/2013.Am i supposed to deduct TDS for this purchase transaction . If Yes on what amount is the TDS to be deducted?

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CA Kapil Verma

CA Kapil Verma (Expert)
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27 June 2015 no need to deducted TDS, as the payment after June 2013 is below 50Lacs.

CA Kapil Verma
Founder- www.taxadvizer.com

atul kumar goel

atul kumar goel (Querist)
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27 June 2015 Thanks Sir,
But if the total payment after June 2013 exceeds 50.00 Lacs, then we have to deduct tax on the whole consideration i.e including payment made before June 2013.

CA Kapil Verma

CA Kapil Verma (Expert)
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13 July 2015 yes TDS to be deducted on whole payment

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