yashwant Dhagekar (Accounts Head) (33 Points)
27 November 2013Our firm is partnership firm,(Builder and Pramoters) we have make Joint venture agreement for construction of appartments with land owner.
Please inform me can we deduct TDS U/s 194IA from the payment made to land owner aganist their sharing ratio.
Yashwant Dhagekar
Mihir
(Wealth Manager)
(5293 Points)
Replied 27 November 2013
It will depend on the specific clauses of the agreement, but if it is a straight sale of a non-agri land and whose amount is more than 50 lacs, then yes you may deduct TDS u/s 194-ia.
yashwant Dhagekar
(Accounts Head)
(33 Points)
Replied 27 November 2013
Not understand please inform in brief, Our Joint venture agreement is not a sale deed in between builder and land owner (N A Plot Holder) then how we can deduct TDS U/s 194 IA and not fixed any amount between us only ratio of construction flat area in sq foot decied.
Mihir
(Wealth Manager)
(5293 Points)
Replied 27 November 2013
Mihir
(Wealth Manager)
(5293 Points)
Replied 27 November 2013
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