Tds on property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 BOOKED A FLAT FOR A CONSIDERATION OF 75 LAKH BEFORE 1/6/13, PAYMENT OF 40 LAKH MADE BEFORE 1/6/13, HOWEVER AGREEMENT IS MADE IN JANUARY 2015 AND BALANCE OF 30 LAKH PAID TODAY, WHETHER T.D.S. ON PROPERTY IS TO BE DEDUCTED OR NOT ??? IF DEDUCTED THAN ON RS. 30 LAKH OR ON FULL CONSIDERATION OF 70 LAKH

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Expert)
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30 January 2015 TDS would be deducted on all flats which are booked on or after June, 13. Hence in your case no TDS has to be deducted.

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Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2015 IS TOTAL CONSIDERATION OF FLAT HAS NO ISSUE IN THIS CASE, ONLY PAYMENTS MADE AFTER JUNE 13 TO BE CONSIDERED, IF MORE THAN 50 LAKH THAN TDS IS APPLICABLE OTHERWISE NOT APPLICABLE ????

CA NAVEEN SINGLA

CA NAVEEN SINGLA (Expert)
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30 January 2015 Plz understand that TDS would be applicable on All Property which are booked after June,13. The question of TDS deduction on above 50 Lacs would be raised for those properties which are booked after june, 13

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