Tds on property
This query is : Resolved
16 August 2013
RESP. SIR/ MADAM,
HELP ME TO COME OUT FROM A SITUATION WHERE THERE IS A AGREEMENT OF SALE OF PROPERTY WHICH IS CO-OWNED BY TWO PARTIES & CO-OWNED BY PURCHASER AND VALUE OF PROPERTY IS 80 LAKHS. WHETHER TDS LIABILITY IS LEVY OR NOT?
HELP ME TO COME OUT FROM A SITUATION WHERE THERE IS A AGREEMENT OF SALE OF PROPERTY WHICH IS CO-OWNED BY TWO PARTIES & CO-OWNED BY PURCHASER AND VALUE OF PROPERTY IS 80 LAKHS. WHETHER TDS LIABILITY IS LEVY OR NOT?
16 August 2013
Yes there will be 1% TDS and both the co-owners can claim the TDS as per section 199/200
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