TDS on payment to landlord by builder
This query is : Resolved
pranab sarma
(Querist)
28 November 2024
Assessee is a builder and currently start developing a residential apartment. As per agreement the builder has to give 10 flat to landlord. But now the landlord said he will keep 8 flat and two flat he want to sale ( construction is just starting ), the builder agreed to pay landlord the value of two flat he want to sale, now the query is that is TDS applicable in this case? if yes, then under with section the builder have to deduct TDS, please suggest !
Dhirajlal Rambhia
(Expert)
28 November 2024
If it is under development agreement sec. 194IC will be applicable.
But if it after the term of agreement, sec 194 IA would apply. So, depends upon the different contracts.
But if it after the term of agreement, sec 194 IA would apply. So, depends upon the different contracts.
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