Menu
TDS on buyback of flat
We are planning to buyback few units from our client in our Caladium Project at premium of Rs. 1500/- per sq. ft.. Please clarify us whether we are required to deduct TDS on this transaction?
Replies (4)
Depends upon the terms of cancellation. Generally refund amount is capital asset and not liable for tax or TDS......... but any compensation paid is termed as 'interest' and liable for TDS. [ Income Tax Officer (TDS) Vs M/s Beacon Projects P Ltd, All ITAT (4283) ITAT Cochin (62)]
Actually we are a builder and we are buying back flat from our client which is stock for us, please advise whether we have to deduct tds or not?
BUT SIR AFTER ITAT COCHIN JUDGEMENT, ASSESS HAD APPEALED IN KERAL HIGH COURT, AND AS PER HC JUDGEMENT TDS IS NOT DEDUCTIBLE 194A.
Please reply...
Recent Threads
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
Related Threads
CAclubindia
