Whether tds is to be deducted on property
This query is : Resolved
PRIYANKA SHARMA
(Querist)
25 July 2013
One of my clients has purchased a property of more than 70lacs & its sale agreement was made before 1st June 2013,by paying 20% as down payment, the rest of the amount to be taken on loan.The loan was sanctioned in mid july. So whether he is liable to deduct TDS u/s 194IA & what is the exact procedure if is liable to deduct TDS.
CA UMESH DULAL
(Expert)
25 July 2013
He is required to deduct and pay the TDS.
Go to the NSDL site, fill 26QB, generate challan (either by paying online/offline) and deposit with register at the time of registration of property
Go to the NSDL site, fill 26QB, generate challan (either by paying online/offline) and deposit with register at the time of registration of property
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