21 April 2016
Hello, I purchased a property in Jan 2011 value 55Lacs. I have paid 35Lacs before 1st June 2013 and the rest 20L thereafter till now. Since the sales agreement was made prior to June 2013, is this 1% TDS rule applicable in my case as the flat is still under construction and not handed over to me?? If yes, do I have to pay TDS on 25Lacs paid after 1st June 2013 or the entire amount since Jan 2011 i.e. on 55Lacs?? Please explain, I have read many articles here but still confused, some say its applicable and some say not applicable.
CAclubindia
