Dear Sir,
If a company purchase a new land for upcoming project's So whether company has to pay the tax against that property. as it's in the name of Company. please advise.
Umesh Bhise (119 Points)
13 August 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 13 August 2021
RENU SHARMA
(1388 Points)
Replied 13 August 2021
Umesh Bhise
(119 Points)
Replied 13 August 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 13 August 2021
| Originally posted by : Umesh Bhise | ||
 |
Thanks for your response, Just wants to know any advance tax we have to pay... against the purchase of property... |  |
If you are referring to advance tax under Income Tax, then no. Tax will be paid only on income earned.
Further, as already pointed out by Renu Sharma, you need to deduct tax at source u/s 194IA on satisfaction of certain conditions.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 13 August 2021
Imthias ahamed Kormath
(910 Points)
Replied 13 August 2021
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 13 August 2021
Imthias ahamed Kormath
(910 Points)
Replied 14 August 2021
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