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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Purchase of land -Tds
Replies (6)
Quick Summary
What was the value of land registered?
If below 50 lakhs, no worry.
Above 50 laks then what should I do?
1% tds u/ 194ia if amount exceeds 50lakh
I haven't deducted is there any consequences from department side??
It may be. wait for IT notice . now its too late. may be IT notice will not come.
Until notice comes there won't be any problem ?
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