TDS

DEAR SIR,

I WANT TO KNOW THAT, I M WORKING IN A PROPRIETOR SHIP CONCERN, (EXPORT ), NOW THE PROPRIETOR IS GOING TO START TO MAKE & SALE THE RESIDENTIAL FLAT IN ANOTHER NAME ( X ENCLAVE), MANY  CONTRACTOR APPONTED TO CONSTRCT THE BUILDING, AND MY CA TOLD THAT THE SALE OF FLATS TO BE SHOWN UNDER CAPITAL GAIN, CHARGES PAID TO CONTRACTOR TO MAKE THE CAPITAL ASSET IS LIABLE FOR TDS DEDUCTION.

PLS TELL ME

THANKS

Replies (2)
Originally posted by :T. BHATIA
" DEAR SIR,
I WANT TO KNOW THAT, I M WORKING IN A PROPRIETOR SHIP CONCERN, (EXPORT ), NOW THE PROPRIETOR IS GOING TO START TO MAKE & SALE THE RESIDENTIAL FLAT IN ANOTHER NAME ( X ENCLAVE), MANY  CONTRACTOR APPONTED TO CONSTRCT THE BUILDING, AND MY CA TOLD THAT THE SALE OF FLATS TO BE SHOWN UNDER CAPITAL GAIN, CHARGES PAID TO CONTRACTOR TO MAKE THE CAPITAL ASSET IS LIABLE FOR TDS DEDUCTION.
PLS TELL ME
THANKS
"


 

YOUR CA IS RIGHT

Sir, I want to know the method of tax calculation for Individua. For ex: IF the taxable income is Rs.443932 out of this Rs.150000 is exempted. The tax on Rs.293932 would be Rs.43786.00. IS my understanding correct. Please advise

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