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Tds deposit u/s 194IA

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service
179 Points Posted on 23 July 2019
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.
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On 23 July 2019 at 18:01 Report
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266 Points Posted on 24 July 2019
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.
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On 24 July 2019 at 09:48
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SEO Sai Gr. Hosp.
211715 Points Posted on 24 July 2019

TDS is to be deducted on the agreement value to be registered, or as per installation amount paid. 

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On 24 July 2019 at 09:52
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service
179 Points Posted on 24 July 2019
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
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On 24 July 2019 at 09:54
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SEO Sai Gr. Hosp.
211715 Points Posted on 24 July 2019

As per conveyance deed, TDS deduction will be Rs. 60,000/-

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On 24 July 2019 at 10:39


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