Tds on property
This query is : Resolved
21 November 2013
as per govt rules wef from 1st june 2013 buyer have to deduct tds 1% on property purchase value exceeds above 50 lakhs .
but if buyer buy any property from bank auction then what to do & that property is corporate office its cost exceeds 150 lakhs
but if buyer buy any property from bank auction then what to do & that property is corporate office its cost exceeds 150 lakhs
22 November 2013
yes. even in a bank auction 194-IA shall apply. 1% TDS shall be deductible.
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