01 January 2022
Sir, Suppose we intend to sell I(One) office Rera Carpet Area 31.26 sq mtr [ 336.48 sq ft] to Mr.Z for Rs 1,00,00,000/-. Besides the above agreement, we collect the following amounts before giving possession of the said office 1) Legal charges for preparing/endorsing the agri etc ........ Rs 20,000/- 2) SocietyApplication & Share Money...................................Rs 1,000/- 3)Soc Formation chgs...........................................................Rs 20,000/- 4) Electric & water Meter Deposit .........................................Rs 20,000/- 5) Advance Maintenance (336.48 x15x12) ...........................Rs 60,566/- 6) Advance Property Tax (336.48x 21x12)............................Rs 84,793/- 7) GST 18% on item No. 1 to 5 ............................................Rs 21,882/- 8) Betterment charges (336.48 x 25) ....................................Rs 8,412/- ---------------- Total Rs 2,36,653/- ========== PS: Adv Maint (Item No.5) & Adv Prop Tax (Item No.6) will be adjusted in future Soc Maintenance charges Bills.
He (Mr Z) has paid the following payments to us without TDS (since we are paying TDS on his behalf) 1) Advance ....... Rs 40,00,000/- 2) GST 12% .......Rs 4,80,000/-
Clarification required on foll pts. 1) Whether TDS on Property is to be calculated on Agri Val Rs 1 Cr or Rs 1,00,82,882/- (Agri Amt + Item No. 1to 3 & Item No. 8) 2) Before registering the agreement if TDS on property on Bal Rs 60 lacs ( ie Rs 60,000/-) is paid on behalf of Mr. Z & debited to his a/c, is GST payable on TDS Rs 60,000/- debited to Mr Z A/c (ie Rs 7,200/-) Kindly give your advice.
CAclubindia
