Tds on purchase of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2015
SIR/MADAM
I had purchased property and the agreement for the same has been executed. The sale consideration is above Rs 50 lacs so i need to deduct tds @ 1% before making the payment.
but my issue is i have made payment of Rs 3 lac in feb 2015 and balance will be paid in month of may 2015 so how much amount of tds should i deduct now
please reply
thanks in advance
I had purchased property and the agreement for the same has been executed. The sale consideration is above Rs 50 lacs so i need to deduct tds @ 1% before making the payment.
but my issue is i have made payment of Rs 3 lac in feb 2015 and balance will be paid in month of may 2015 so how much amount of tds should i deduct now
please reply
thanks in advance
03 April 2015
if the amount of gross sale consideration does not excedds rs 50 lakhs then tds provisions shall not be applicable.
https://www.charteredclub.com/tds-on-property/
https://www.charteredclub.com/tds-on-property/
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