Tds liablity on buying commercial property
This query is : Resolved
11 April 2024
Our proprietor's wife bought a land and building worth 94 lacs. The land value is 20 lacs and building value is 70 lacs. Does TDS needs to be paid in this case.
12 April 2024
Yes, 1% TDS applicable in this case under section 194IA.
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12 April 2024
Sir, am i right that TDS to be deducted for 44 lacs only? i.e., above the 50 lacs value
12 April 2024
No, TDS applicable on entire value.
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