TDS on Property joint Buyer

This query is : Resolved

Rahul Ramachandran (Querist)
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07 October 2024 Hi All,
I doubt on TDS applicability in the below scenario:
Property : apartment booked prior-construction and will be registered post construction.
Land cost: 8L
Construction:41L
Total : 49L
GST : 5%
Total of GST: 51.45L
Seller: pvt company
Buyer : join owner(husband & wife)

Question:
1.Whether TDS PROVISION applicable for purchase value based on net (49L) or gross (51.45L)
2.Whether TDS CALCULATION applicable based on net (49L) or gross (51.45L)
3.As buyer is joint owner, the limit is considered based on each buyer wise also or only the total property value wise?
4.Whether TDS applicable in the above scenario

Please provide your suggestions.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 October 2024 Whether the property is apartment/flat or independent house?

Rahul Ramachandran

Rahul Ramachandran (Querist)
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07 October 2024 It's a low raise flat of gated community.. the land share is UDS.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 October 2024 Whether there is single agreement inclusive of land cost? or there are two different agreements of land and construction agreement separately?

Rahul Ramachandran

Rahul Ramachandran (Querist)
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07 October 2024 There are 2 agreement: agreement for sale (land) and construction agreement

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 October 2024 So, how GST is also charged over land? GST should have been charged only over construction services.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 October 2024 Good luck ....

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