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Tds on immovable property

TDS 487 views 1 replies

Milan Agrawal

Chartered Accountant

207 Points Joined March 2011

Dear all,

One of my client has purchased land wherein payment has been made to 2 persons:

1. XYZ (P) Ltd. (one of the owner of the land) - 90%

2. Mr. A (Power of Attorney holder of the rest of the owners of the land) - 10%

My Query is:

Whether TDS will be deducted in the name of Mr. A or in the name of the owners of the land in case of the 10% payment?

Regards,

CA Milan Agrawal

Replies (1)

I think normaly tds will be deducted while making payment of property purchased so to whom we make payment, should be subject to tds. So as per my opinion 90% tds shall be deducted while making paymemt to xyz ltd and rest of the tds shall be deducted while making payments to A.