TDS ON PURCHASE OF TDR AMOUNTING TO 1CR


This query is : Resolved 

Quick Summary
This discussion clarifies the applicability of Tax Deducted at Source (TDS) on a Term Deposit Receipt (TDR) purchase of 1 crore. TDS is not levied on the principal amount of the TDR itself, but rather on the interest earned. Additionally, TDS at a rate of 10% under section 194IC is applicable to the 'transfer of development right'.

03 March 2020 IS TDS APPLICABLE ON PURCHASE OF TDR AMOUNTING TO RS 1CR? AND AT WHAT PERCENT?

03 March 2020 Tds is not applicable on making TDR.. Tds is applicable on interest portion.

04 March 2020 TDS is applicable on 'transfer of development right' @10% per section 194IC.


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