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

CA PARAS BAFNA (Expert)
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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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