Sec. 194 IA is effective from 1/6/2013. Suppose there is case where the total consideration is Rs. 2 Cr, Rs. 1 Cr was paid as advance in January 2013 & balance Rs. 1 Cr is being paid now at the time of registration of property, on what amount should TDS of 1% be deducted? on Rs. 1 Cr or 2 Cr?
Arjun Hariharan (Asst. Manager) (181 Points)12 June 2013