As per Section 194ia TDS is required to be deducted on purchase of Property on value more than 50 Lacs. Now one company has purchased 3 Plots of same builder in same locality of 30 Lac each and made the single payment of 90 lacs by one cheque for purchase of these 3 plots.
MY QUESTION IS THAT WHETHER TDS IS REQUIRED TO BE DEDUCTED U/S 194IA AS THE VALUE OF SINGLE PLOTS IS LESS THAN 30 LACS BUT THE TOTAL PAYMENT EXCEEDS 50 LACS.
as per my knowledge, no TDS is required to be deducted, because 3 properties are acquired and each of the property is less than 50 lacs..
Regards,
Sayli Jain
sayli12345 @ gmail.com
I think TDS not required because all three properties are different and have it individual legal existence.So,all properties shall not be clubbed and tds shall not be deducted
If sale deed execute in single (both 3 plots) tds will be applicable. Each plot seperate sale deed not possible because payment made in single.
No TDS is required to be deducted as payment is made for 3 different properties.
agree with above.
thanks
CAclubindia
