Tds on purchase of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2015
Whether buyer need to deduct TDS on purchase of property if the before-discount value is more than 50.00 lacs and after discount value is less than 50.00 lacs ?
Builder is not giving any clear answer.
Builder is not giving any clear answer.
23 February 2015
If the consideration for transfer of property is Rs.50.00 lakhs and above, the buyer, who pays consideration to the seller, has to deduct TDS @1% of the amount of the consideration and pay TDS with PAN of the seller. TDS is to be made on the advance amount also prior to registration.In case of TDS on such transfers, no TDS return is required to be filed. Challan form is FORM 26 QB. No need to obtain TAN also
24 February 2015
tds is deductible only if you are paying more than Rs.50 lakhs
24 February 2015
you have to take sales consideration if exceeds rs. 50 lacs then tds applicable otherwise note.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
