Hi!
A commercial land has been purchased by a public limited company from a state government undertaking worth Rs 2 crores. Is TDS required to be deducted @ 1% U/S 194IA being payment to be made to government.
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TDS on purchase of property from Govt.
Replies (2)
Tds not required to be deducted in this case
Threshold limit is Rs.50 lacs.
1% is to be deducted in form 26 BQ.
1% is to be deducted in form 26 BQ.
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