×
  

Continue to LawRato.com with Google


Continue

Clarification regarding TDS Deduction over property over 50lacs.


I have purchased an under construction property almost nearing possession at the time of sale in Noida for 60 lacs. 50% payment made to builder on behalf of seller and remaining 50% to seller. My question is whether now I deduct entire TDS for my seller or partly on builder and partly on seller.


Answers (1)

Consideration value declared at the time of sale deed/ conveyance deed showing that how much amount you have paid against purchase of this property either directly or through their agent, The TDS will be deducted on the total consideration value declared as above. In the second part- if total value actual paid to the seller or to the agent/builder higher than consideration value excess amount paid treated as commission and no any TDS applicable on that excess amount considered as commission.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Tax Lawyers

Advocate Kapil Chandna
Patiala House Court, Delhi
6 years Experience
Advocate Manish G Varma
Fort, Mumbai
16 years Experience
Advocate Athar Amaan Hava
Navrangpura, Ahmedabad
13 years Experience
Advocate Nagendra Prasad
Kumara Park West, Bangalore
31 years Experience

"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Divorce Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Similar questions

My wife was admited in a hospital for heart problem in nov 2016. That time I had Rs. 94,000/-, which was lent from my friend. Notes were all old 500 a…

Read More

My question is regarding tax on savings of many years. My friend has savings worth 30 lakh+ in form of savings bank account balance+ fixed deposit+pos…

Read More

Sir, My father gifted me cash of Rs 17 Lac after selling his inherited agriculture land as he is old so amount of deal is directly transferred in my a…

Read More

My son purchased a flat in joint names (My son and myself (lady senior citizen) while taking a loan from a bank which has been fully paid and transfer…

Read More

Get free assistance for your legal issue