TDS ON PURCHASE OF TDR AMOUNTING TO 1CR

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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'.

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(Querist)
03 March 2020 IS TDS APPLICABLE ON PURCHASE OF TDR AMOUNTING TO RS 1CR? AND AT WHAT PERCENT?
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Eswar Reddy S

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Eswar Reddy S (Expert)
03 March 2020 Tds is not applicable on making TDR.. Tds is applicable on interest portion.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 March 2020 TDS is applicable on 'transfer of development right' @10% per section 194IC.
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