Tds provision u/s. 194 ia on purchase of immovable property
This query is : Resolved
20 December 2013
Dear All,
My client had purchased one Immovable Property Value of Rs.80 Lacs before 1 June 2013. Advance Payment made of Rs. 70 lacs at the time of Agreement to Sale before 1 June 2013.
Now the Party has registering Sale Deed in the Month of Dec. 2013 & wants to issue Balance Payment of Rs. 10 Lacs to the seller of Property.
My Question is Whether he is required to Deduct TDS on whole Consideration of Rs. 80 Lacs or on Balance Payment of Rs. 10 Lacs or not required to deduct TDS on any Amount.
Kindly Guide me on this Query as early as possible with relevant Case Laws or any Provision.
My client had purchased one Immovable Property Value of Rs.80 Lacs before 1 June 2013. Advance Payment made of Rs. 70 lacs at the time of Agreement to Sale before 1 June 2013.
Now the Party has registering Sale Deed in the Month of Dec. 2013 & wants to issue Balance Payment of Rs. 10 Lacs to the seller of Property.
My Question is Whether he is required to Deduct TDS on whole Consideration of Rs. 80 Lacs or on Balance Payment of Rs. 10 Lacs or not required to deduct TDS on any Amount.
Kindly Guide me on this Query as early as possible with relevant Case Laws or any Provision.
22 December 2013
only on the balance payments made after 1 June 2013. Payments before that are not to be considered.
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