25 June 2015
Sir, Can you please clarify if property value is 45 lakhs but purchaser has to pay another 8 Lacs as parking , Premium charges and few other charges to the seller. Do purchaser need to deduct tds @ 1% under section 194 (1A) as consideration for property is 45 lacs but after adding other charges , it exceeds 50.00 lacs ?
25 June 2015
Agree with Seetharaman. The word is "consideration" and amount paid to seller towards parking, premium charges are part of consideration only.
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