Tds on purchase of property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2018
HUSBAND AND WIFE PURCHASED A SINGLE PROPERTY FOR Rs. 8100000/-. THRU' ONE SINGLE REGISTRY.
BOTH MADE PAYMENT OF Rs. 4050000/ EACH FROM THEIR RESPECTIVE ACCOUNTS
BOTH ARE INCOME TAX ASSESSEE
ARE THEY LIABLE TO DEDUCT TDS ON PAYMENT TO THE TRANSFEROR WHEN THE AMOUNT PAID BY EACH OF THEM IS LESS THAN Rs. 50/ LAKH
BOTH MADE PAYMENT OF Rs. 4050000/ EACH FROM THEIR RESPECTIVE ACCOUNTS
BOTH ARE INCOME TAX ASSESSEE
ARE THEY LIABLE TO DEDUCT TDS ON PAYMENT TO THE TRANSFEROR WHEN THE AMOUNT PAID BY EACH OF THEM IS LESS THAN Rs. 50/ LAKH
27 July 2018
Property value is more than 50 lacs hence TDS applicable, both of them has to deduct TDS.
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