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What all components of the cost for the flat is applicable for TDS
18-Sep-2023 (In Tax Law)
I have booked an under construction flat which costs total of 52 lakhs. I want to know what all components of the cost is applicable for TDS. the breakup says Taxes and legal charges of around 4 lakhs. so is the tax component also to be calculated for tds. If not then my sale value goes below 50 lakhs. also any other component to be ignored like car parking charges, STP, Generator, Bescom and BWSSB charges, association deposit?
Only the total value shown in the sale deed if it exceeds Rs 50 Lakhs will be liable for TDS of 1%, which would be Rs.50,000/-. In your case the registration value would be lesser than Rs.50.00 lakhs therefore you would not be liable to deduct TDS.
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Adv. Kiran N Murthy
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