Tds on sale of property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2013 I have a doubt related to deduction of Tax on sale of Property :
Suppose the value of property is more than Rs. 50 lac and we have made payment of 4-5 instalments before June 2013 and still some instalments are to be paid.
My query is - whether we have to deduct tax only from the amount which we shall pay after June 2013 or it has to be deducted from previous payments also (i.e. from the instalments paid before June).
Even though in my opinion it should not be applicable on previous payments, still I want Expert opinion.
Thank You.

Arun Biyani

Arun Biyani (Expert)
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08 October 2013 For future payment only post june 2013, TDS is to be deducted..

Message likes : 1 times

Sanket

Sanket (Expert)
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08 October 2013 This Section 194IA would be applicable wef 1st June 2013. so it will applicable on past payments.

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