Tds on property purchase
This query is : Resolved
27 June 2016
An individual purchased an immovable property for an amount of Rs. 64 Lakhs. He paid it in three installments in three different years. Last payment was on January 2016. Is the payment liable for TDS? Are there any remedies for non deduction?
27 June 2016
Yes the payment is liable for TDS since cost of property exceeds Rs. 50 Lakhs.
27 June 2016
Tds to be deducted and paid on each Installment
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