TDS on Development Charges

T N SATHISH (CPT STUDENT) (93 Points)

20 February 2010

Hi,

TDS on the Development Charges to the Electricity Department should be deducted u/s. 194C or u/s. 194J

With regards,

Thanks in Advance,

T.N.Sathish.

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3 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 20 February 2010

Dear Sathish

No, u can't Deduct TDS into Both section 194C and 194I

T N SATHISH (CPT STUDENT) (93 Points)
Replied 20 February 2010

Thank you Sir but I had mentioned 194C and 194J but not 194I Sir and if you have any Case Law or notification it will be helpful for me.

Chandhini Viswanathan (b com) (27 Points)
Replied 17 May 2012

THE BUYER OF A PROPERTY SAYS THAT HE WOULD REGISTER THE PROPERTY FOR THE GUIDELINE

VALUE ONLY AND THE BALANCE AMOUNT OF MARKET VALUE WOULD BE PAID BY WAY OF FULL

SETTLEMENT DEED REFERRING THE DIFFERENCE AMOUNT AS "DEVELOPMENTAL CHARGES " WHICH

IS REDUCED IN WRITING IN A STAMPED AGREEMENT (rS.20 VALUE).

IF THE SELLER AGREES FOR THE SAME, WHETHER EXEMPTION UNDER CAPITAL GAINS IS AVAILBLE

FOR THE DEV. CHARGES PORTION ALSO IN THE HANDS OF SELLER. WHAT IS THE TAX LIABILITY ON

THE DEVELOPMENT CHARGES SO RECEIVED? WHETHER THE DEVELOPMENTAL CHARGES WILL BE TREATED

AS CAPITAL GAINS AND WILL BE TAXED ACCORDINGLY?

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