Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2013 ONE OF THE CLIENT SOLD TO HIS FLAT WITH 40 LAKHS AND HE PAID A COMMISSION TO BROKER 10% I.E. 4 LAKHS WHAT TO DO AS PER INCOME TAX ACT PLEASE GIVE PROCEADURE AND HE IS A SMALL BUSINESS MAN HIS TURNOVER IS BELOW 4 LAKHS ONLY

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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12 March 2013 First of all -
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Great India !!

That a small business man having turnover of below Rs.4 lacs p.a. is able to have a house worth Rs. 40 lacs !
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The government also takes care of "such persons" as in this instant case he is not required to deduct any TDS.
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I also salute him that he is so "brave" and/or "kind" to pay such a "huge" commission of 10% to the broker.
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Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2013 THANK U SIR AND THAT HOUSE IS TRANSFERED FROM HIS FATHER AND THAT HOUSE IS PURCHASED BY HIS FATHER IN THE YEAR BEFORE 1990

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