Sec 194ib tds on sale of immovable property other than agriculture land
when does the liability of purchaser comes to deduct TDS and pay the same. IF the payment is done on installment bases.
Illustration on above issue Suppose the value of the building is70,00,000 and the buyer pays 45,00,000 on 1st july 2015 and remaining 25,00,000 on 1st jan 2016. when buyer has to deduct TDS and on what amount? Either on 1st july 40000 and 1st jan 25000 or whole 7000 on 1st jan after his payment excceds 50,00,000 value?
Replies (1)
on the basis of installment paid.. on 1st July 2015 Rs.45000 and on 1st Jan 2016 Rs.25000
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