Tds on payment of certain immovable property
This query is : Resolved
04 April 2015
Sir,
According to section 194-IA, TDS shall be deducted @1% on transfer of immovable property other than agricultural land exceeding Rs. 50 Lacs.
My query is,
Whether TDS shall be deducted for joint seller or joint purchaser if value of the property is Rs. 60 Lacs. Hence the share of each party is Rs. 30 Lacs.
According to section 194-IA, TDS shall be deducted @1% on transfer of immovable property other than agricultural land exceeding Rs. 50 Lacs.
My query is,
Whether TDS shall be deducted for joint seller or joint purchaser if value of the property is Rs. 60 Lacs. Hence the share of each party is Rs. 30 Lacs.
04 April 2015
In my view if the sale consideration to be received by each individual is clearly stated in agreement to sale then not required to be deducted otherwise it should be deducted.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- 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
