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Tds on property
Dear sir, My client purchased new property and payment done by Installment so my question is how to deduct TDs on property. on entire amount or installment amount plz guide me.
Replies (3)
In my openion if value of property is more then 50 lacks you need to deduct tds @ 1% irrespective of payment in parts.
TDS can be deducted according to each payment. But in that case, you have to deposit the TDS and file Form 26QB each month.
TDS should be deducted as per installment made
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