SIR...DO WE HAVE TO DEDUCT TDS ON COMMISSION PAID TO AGENTS ON SALE OF PROPERTY
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TDs in Agents commission
Replies (5)
Please refer Section 194 H of the Income Tax act 1961
Yes, You must deduct TDS under section 194H if commission paid to above threshold limit
If you are in the business of sale and purchase of property and in the ordinary course of business you have paid the said commission to the agent,then you are mandatorily required to deduct tax on the commission amount u/s 194H @ 5%.
Sir ..I m selling my property first time and its not my business. i promised to pay 1% commission on sale value.commission coming to 2,70,0000
Property value 2.70cr
Is it necessary to deduct TDS on this amount or should i ignore and pay full.amount.
Being an Individual and not having business covered under audit u/s 44AB you are not required to deduct tax.
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