TDS on purchase of immovable property non deduction

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An individual purchased an immovable property for Rs.60 lakhs, assuming no TDS was required as each of the four joint sellers' shares were below the Rs.50 lakh threshold. The query asks if the tax department can raise a demand for non-deduction and if there are any supporting case laws. A suggestion was made to obtain a certificate from the seller's CA confirming full tax liability payment to avoid penalties.

Subhash

Subhash (Querist)

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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

09 September 2024 Good Luck.

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