Tds on purchase of property.

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MadhuSudan Goyal (Querist)
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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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 December 2013 Even the section uses the word tds on gross amount..it means the total consideration.

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