banner_ad

Tds on sale of property

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 June 2014 Dear Sir,

Mr A (buyer) pays amount of in excess of Rs 50 Lacs including taxes to Mr B(Builder)in the financial year 2011-12, however the said property is not registerd Till Date

Now Mr A does not want the property and agreed to receive the amount already paid in the Financial Year 2010-2011

Mr C, (Atual Buyer) wants to Purchase the above mentioned property in the Current FY 2014-2015 and he will making the payment to Mr A(first Buyer)

but the actual property is still in the name of Mr.B(Builder)

1) In whose Favour TDS needs to be deducted
a) MR.A (Firt Buyer) Possessor
b) Mr.B (Builder) actual owner

Since a Tripartie agreement is entered into between the 3 parties .

Kindly do the needful

Best Regards
Prasad DVS
Profile Image

CA. Nage Gowda

Profile Image

CA. Nage Gowda (Expert)
19 June 2014 It would be advisable that Mr. C directly pay the sale consideration to MR. B and then MR. B pays to Mr. A for cancellation of earlier agreement.

Now MR. C can deduct TDS in the name of MR. B.
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
19 June 2014 MR C MAKE Agreement with B not with the builder. C deduct the tax of A. after that A do any thing with the money.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details