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Purchase of land -Tds

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68 Points Posted on 17 October 2021
as a sole proprietor if I purchase a land do I need to deduct tds..?
I have forgotted to deduct tds on payment is there any penalty on me..?
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On 17 October 2021 at 21:01 Report
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SEO Sai Gr. Hosp.
211715 Points Posted on 18 October 2021

What was the value of land registered?

If below 50 lakhs, no worry.

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On 18 October 2021 at 07:56
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68 Points Posted on 18 October 2021
Above 50 laks then what should I do?
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On 18 October 2021 at 08:33
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13 Points Posted on 18 October 2021
1% tds u/ 194ia if amount exceeds 50lakh
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On 18 October 2021 at 09:05
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68 Points Posted on 18 October 2021
I haven't deducted is there any consequences from department side??
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On 18 October 2021 at 09:08
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13 Points Posted on 18 October 2021
It may be. wait for IT notice . now its too late. may be IT notice will not come.
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On 18 October 2021 at 09:12
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68 Points Posted on 18 October 2021
Until notice comes there won't be any problem ?
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On 18 October 2021 at 09:15


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