I am purchasing a property(under construction) and have executed a sale agreement for the land (uds) for 28 lakhs and also registered the construction agreement for 80 lakhs. Will I need to deduct TDS in my payments as the total value exceeds 50 lakhs? My builder claims TDS is not applicable as the land value is less than 50 lakhs. Please advise.
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Tds on purchase of property
Replies (4)
Agree with above
In this case, the land is registered and construction is yet to happen. As per the builder's auditor, the land is the immovable property and construction is not.We understand the changes based on 2013 rules.However, the provision is debatable. Hence, require some guidance based on similar cases /instances.
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