TDS on purchase of immovable property non deduction
This query is : Resolved
09 August 2024
Assessee had purchased one immovable property for Rs.60 lacs and no TDS was deducted on the assumption that there were 4 joint sellers of the said property and each share was less than 50 Lacs.
Can the department raise a demand for non deduction of TDS or is there any case laws in our support ?
Thanks in Advance
Can the department raise a demand for non deduction of TDS or is there any case laws in our support ?
Thanks in Advance
11 August 2024
If the seller has paid his tax liability by filing ITR, take his CA's certificate that the tax liability has been fully paid and there is no dues over the sale transaction. That can save you from the penalties.
09 September 2024
Good Luck.
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