27 June 2015
Sir, If I booked a residential flat having agreement value of Rs.60.00 lacs, of the total amount Rs.25.00 lacs was paid prior to 01/06/2013 , remaining was paid through installments after 01/06/2013 as and when demanded by the builder depending upon the construction progress. The agreement of purchase is dated 15/05/2013.Am i supposed to deduct TDS for this purchase transaction . If Yes on what amount is the TDS to be deducted?
27 June 2015
Thanks Sir, But if the total payment after June 2013 exceeds 50.00 Lacs, then we have to deduct tax on the whole consideration i.e including payment made before June 2013.
CAclubindia
