Tds on property sale @ 1% u/s 194ia
This query is : Resolved
CA.Pravinchandra
(Querist)
06 June 2013
As per the newly inserted section TDS of 1% needs to be deducted on Sale of immovable property.
Suppose a person has paid advance of 10lac for sale agreement of 60Lac, is it necessary to deduct the TDS while paying advance itself? or he can deduct TDS on entire consideration, while paying remaining sum.?
Suppose a person has paid advance of 10lac for sale agreement of 60Lac, is it necessary to deduct the TDS while paying advance itself? or he can deduct TDS on entire consideration, while paying remaining sum.?
CA Kapil Verma
(Expert)
06 June 2013
yes , tds should be deducted on advance also.
because you already knows at value of property will exceed 50 lacs.
because you already knows at value of property will exceed 50 lacs.
CA.Pravinchandra
(Querist)
06 June 2013
Thank you so much..
CA Kapil Verma
(Expert)
06 June 2013
your welcome sir.
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