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TDS under section 194IA
Anyone tell me if TDS is deducted under section 194IA but property is transfer in next year and some payment is received in current year and part payment is received next year than how to present in the retrun in both the year and how TDS is claimed?
Replies (1)
When property is transferred by way of registered deed &/or possession, the date is considered as actual transfer of property.
If the same was performed last year, CG liability arose in that year, even though balance payment received in next year. Accordingly adjust the TDS amount.
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