[aaykarbhavan] QUEERY REGARDING TDS ON SALE OF IMMOVABLE PROPERTY SECTION 194IA

Dear Sir

Want guidance regarding the provisions of section 194IA. My querries are:

1) X has booked a flat In April 2013 for which he has not made any agreement by paying a sum of Rs. 30 lacs. The cost of the flat is Rs. 95 lacs. In June 2013, he has paid Rs. 10 lacs. Now whether the TDS is applicable on Rs. 10 lacs or on Rs. 40 lacs?

2) Z has registered a flat agreement costing Rs. 60 lacs in April 2013 by paying a sum of Rs. 5 lacs. The construction is at plinth stage. Now he will be paying based on the slabs given by the builder now whether he will have to Pay TDS according to the slabs he pays or on Rs. 55 lacs total?

Please advise

Regards

CA Hemang N Vyasa
Pune

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