TDS on Asset
Subramanya Kamath (32 Points)
01 December 2019Subramanya Kamath (32 Points)
01 December 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169035 Points)
Replied 03 December 2019
That is only if the expenditure is for business purpose...
But for properties ,,,,, interest with penalty gets attracted...
CA Arun Tiwari
(Partner)
(5445 Points)
Replied 06 December 2019
In case of Non deduction of TDS at the particular time then it will lead to serious consequences for the Buyer of the property and seller himself has to bear all .
As Sec 194IA states that When the Immovable property (other than Agriculture land) having the sale consideration exceeds 50 lakh then it Tds is required to be deducted by the Buyer at a percentage of 1%
This is the mandatory clause will have to comply ,otherwise will lead to non compliance .
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)