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TDS on purchase of land development rights

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 November 2010 Hiii ,

A private company is engaged in the business of real estate developement.

It wants to purchase a land development right from another private limited company for one of the project. So we are going to pay Rs. 10 croers as land developments right to the company.

So my question is that whether this amount payable to the second co. is liable to TDS ??

If yes under which section..

If possible quote any case laws.( if any)
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
19 November 2010 TDS will not be applicable.
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