Tds on property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2013
I along with my brother going to purchase half share each in a property for 60 lacs (each share comes to Rs 30 lacs)by executing one sale deed. Am I require to deduct TDS u/s 194-IA
CA PARAS BAFNA
(Expert)
26 June 2013
Yes, as the consideration for the transfer of property is not less than 50.00 lac as per Section 194-IA, TDS is required to be deducted by both of you.
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