08 October 2013
I have a doubt related to deduction of Tax on sale of Property : Suppose the value of property is more than Rs. 50 lac and we have made payment of 4-5 instalments before June 2013 and still some instalments are to be paid. My query is - whether we have to deduct tax only from the amount which we shall pay after June 2013 or it has to be deducted from previous payments also (i.e. from the instalments paid before June). Even though in my opinion it should not be applicable on previous payments, still I want Expert opinion. Thank You.
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