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Tds deposit u/s 194IA
Total consideration of flat is Rs 60 lakh. Builders give discount Rs 50k. now my query is should I deposit TDS on 60 lakh or 59.50 lakh. and on conveyance deed which amount mentioned as total consideration.
Replies (4)
Sec 194ia says that you have to deduct TDS on the amount of consideration transferred/paid or credited to seller's account. So you should deduct TDS on 59.50 lakh.
TDS is to be deducted on the agreement value to be registered, or as per installation amount paid.
But in deed on conveyance seller mention flat value 60 lakh. so any problem aries in income tax . should they asked for short deduction of tds of rs 500
As per conveyance deed, TDS deduction will be Rs. 60,000/-
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