We purchased a property from Noida Authority before any amendment of Section 194IA and time to time we are paying installment for it. But no registry at all. I want to ask in this case TDS will be applicable or not on property purchased before arrival of section 194IA?
16 January 2015
NO TDS WILL DEDUCT ON THE AMOUNT WHEN YOU MAKE AGREEMENT WITH THE AUTHORITY. AT THE TIME OF AGREEMENT ITS NOT LEVIABLE THEN YOU HAVE TO DEDUCT ON PAYMENT TIME IF AMOUNT EXCEEDS RS. 50 LACS. AND YOU HAVE TO SHOW TO REGISTRING AUTHORIRTY TDS CERTIFICATE ON FULL AMOUNT OF AGREEMENT.
CAclubindia
