Tds on property

This query is : Resolved

SUBIR GUHA (Querist)
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31 May 2016 B purchases a property worth 1 crore owned by four owners M,N,O and P. He pays 25 lacs each to M,N,O and P. Is 194-1A attracted ?

Rupesh Jain

Rupesh Jain (Expert)
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31 May 2016 amount is below rs. 50 lacs tds is not applicable . but its better due to deduct due to property registry authority and income tax deptt see the buyer value and make objection on that.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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31 May 2016 Not agree with expert.
TDS will be applicable sale value is Rs.1 Cr. which is more than Rs. 50 Lakhs.
Hopefully our following article is helpful :

http://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html

https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

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