Tds on purchase of property.
This query is : Resolved
25 December 2013
If i made an agreement to sell on 31/12/2011 of Rs.96.50L &
Made part payment of 63L at that time by cheque only. Now due late freehold, Saledeed will be done on 3rd Jan. Should I deduct TDS@1% on 33.5 or 96.5. Please clarify.
25 December 2013
TDS will have to be deducted on the whole sale consideration.
Since the copy of challan needs to be attached with the sale deed, the tax will have to be deducted on the whole amount.
Since the copy of challan needs to be attached with the sale deed, the tax will have to be deducted on the whole amount.
25 December 2013
Even the section uses the word tds on gross amount..it means the total consideration.
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