Tds on purchase of property more than 50,00,000
This query is : Resolved
06 April 2014
I purchased one apartment from DLF New Delhi at Gurgaon and agreement with the company was signed in June,2011( Company's standard agreement) and now within few days i.e. 2014 the possession of the apartment is to be given and sale deed to registered with the registrar of assurances during 2014. It was a down payment apartment and 90% payment was made in June,2011 and only 10% of remaining payment which is 9.,67,030 is to be paid now in 2014. Please clarify whether TDS on purchase of property @ 1% is required to be paid on this sum of Rs 9,67,030/- trough form Q 21 and form 16 B to be down loaded from income tax web site.
08 April 2014
u/s 194IA is applicable form 1.6.2013 and on rs. 50 lacs or more
then you are not paying rs. 50 lacs
so it is not applicable to deducted TDS .
then you are not paying rs. 50 lacs
so it is not applicable to deducted TDS .
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