If we bought real estate in July 2012 and the property should be purchased in April 2014. As of August 2013, 96% of the value of real estate is no longer devalued, do we have to pay TDS since it will be in effect from June 2013? We too are buyers of me one of my wife, how to pay tDS in this case? If GST is deducted from the transaction value for the acquisition of real estate, TDS is deducted from the non-GST amount. If the buyer deducts TDS 1% of the overall flat consideration, i.e. both the UDS value and the value of the computer, or 1% deductible to the only UDS value registered with the SROs. I`m a buyer. Should I deduct TDS from the amount greater than the real estate value of Rs 50 lakh or the total amount at which I purchased the property? Good Morining I have a question at 194IA whether the agreement of the sales reflection for 60Laksh before 1.06.2013 and the partial payment for 20 Lakhs was also made before 1.6.2013. So, do I have to pay TDS on that balabce amount that I paid on 1.6.2013 or after? I have quick requests – I bought an apartment under construction of Rs 60 Lakes with my wife`s co-plaintiff in 2012. I paid 95% of the fee before June 01, 2013 and the contractor contract is April 24, 2013. During detention, on May 26, 2015, I paid 5% residual rest 5%, i.e.
3 lakes from my wife`s account, without deducting TDS at 5% payment. Section 194IA of Income Tax Act requires a buyer to deduct taxes equal to 1% of the value of the sale if the value of the Rs transaction is 50 Lakhs or more. This section includes residential property, commercial real estate and land. However, transactions related to the acquisition of farmland are not covered by this provision. I buy a residential value that is more than Rs. 50 Lakhs. Under Sec 194IA, I have to deduct 1% of tDS and file the same with the government. However, at the time of the purchase, I did not know that TDS was to be withdrawn, and now the Income Tax Office has sent me a notice on the payment of TDS, with interest and a 100% fine.
Would you like to suggest what I can do? Dear Sir I am an employee who works as a teacher at MNNIT Allahabad, U.P. I bought an apartment in Noida. The seller deducted and deposited TDS 1%, since the value of the real estate was greater than 50 Lakhs. In my expiry form TDS 26AS appears in Part F- Data of the tax deducted at source from the sale of land u/s 194IA (For buyers of real estate) with certificate number tds, deucte name, i. owner`s name, Aberres PAN, confirmation number, confirmation number, global transaction number, transaction date, TDS paid and filing date. I would like to know which ITR I need to fill out, whether it is the ITR-1 or the ITR-2. As I must prove in ITR`s e-submission, since the amount was paid to the buyer and he filed the TDS as the account name, the seller of the property is. Please help me out so I felt the ITR needed for AY 2015-16 your early response e-file. Thank you and with reference, Dr. Ram Pal Singh M. Y purchased a property under construction in direct distribution by the owner at a total cost of 60 lakes. So far, the property has not been completed and Mr.
Y has paid 30 lakes as needed by the owner so far. Now he`s going to sell his property to Mr. X at the premium rs margin. 15 lakes. So herr x now have a total of 45 lakes to pay to the seller/Mr Y (which he has paid to buider so far 15th (Premium)AND rs balance.