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Tds on sale consideration

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2012 SIR, ONE OF MY RESIDENT CLIENT,INTENDS TO PURCHASE THE HOUSE PROPERTY FOR THE VALUE OF Rs.1.5 CRORE,IS MY CLIENT DUTY BOUND TO DEDUCT THE TAX (TDS) FROM THE SALE CONSIDERATION?

PL CLARIFY
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
26 June 2012 The provision requiring buyer to deduct TDS at the time of purchase of property has been dropped and has NOT been made applicable.

Accordingly, the buyer is NOT required to deduct TDS.
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
26 June 2012 NO TDS IS DEDUCTED ON SALE CONSIDERATION.
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
26 June 2012 yes I am agree With Praveen Singh.
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