02 March 2021
Respected Professionals, our's is Partnership firm, our boss purchased immovable property on his name but he used to made partial payment by firm. The value of property is more than 50 Lakhs, as per IT there will be 194IA applicable right?. My question is that payment made by the firm is liable to deduct TDS ?, as only approximately 10 Lakhs payment made by the firm and now we are transferring amount from firm to our boss account as we are recorded as drawings to boss capital account. So kindly suggest me about TDS.
CAclubindia
