Tds on immovable property u/s 194ia
This query is : Resolved
19 June 2013
Client has purchased an immovable property for Rs60Lacs. The payment for Rs30lacs has been made prior to 1st June 2013 and balance payment of Rs 30lacs has been made after 1st June 2013.
Please advice whether TDS is required to be deducted as the total consideration of house exceeds Rs 50lacs ? if yes, on what amount.
Please reply at the earliest .
Please advice whether TDS is required to be deducted as the total consideration of house exceeds Rs 50lacs ? if yes, on what amount.
Please reply at the earliest .
23 June 2013
In the books of account maintained by the purchaser, if amount of Rs 60lac has been credited to the Vendor prior to 1-6-2013, then there is no TDS liability.
.
However, if the property will be transferred
after 1-06-2013, then TDS should be deducted
on the total consideration of Rs 60.00 lacs @ 1%.
.
.
However, if the property will be transferred
after 1-06-2013, then TDS should be deducted
on the total consideration of Rs 60.00 lacs @ 1%.
.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Presumptive income under 2025 ACT
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
