Tds on purchase of flats
This query is : Resolved
28 May 2015
Is it necessary to deduct TDS u/s 194-IA if someone is investing in purchase of a FLAT(payment in installments spread over 4 year) from a Builder, if it's consideration exceeds Rs 50 lakhs???
If yes,then whether TDS should be deducted on EVERY INSTALMENTS??
28 May 2015
Yes, TDS is mandatory on each installment.
28 May 2015
yes since the aggregate shall exceed the threshold limit of rs 50 lakhs and even though the installment is less stil every installment needs to be deducted
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