Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2013 As per sec 194IA , Is property means Land , buliding or Flat ? If assessee makes two or three registeries of one Property then he is liable to deduct tds u/s 194IA

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

15 December 2013 As per Section 194IA property means any immovable property which includes Land, Building, Flat etc but does not include Agriculture Land.
.
The person who is purchasing the property has to deduct TDS.
.
Now illustrate how 3 registries are desired for one property ?

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2013 if a property is of 500sq.yards. one part (125 sq yards) is sold to one person & other part (150sq yards to another person making another registery ). remaining 225 sq yards sold to another person through another registery . In this case Tds deduction i/s 194IA

Upgrade to CAclubindia Pro. Subscribe Now!