Question ID :
40510
Tax deduction u/s 194IA
"A" entered into an agreement to purchase a land for Rs. 14 Cr. and paid an advance of R. 8Cr. on 12-03-2012. No deduction was made u/s 194IA as the section came into existence only on 1-06-2013. Subsequently Rs. 6 Cr. were paid on 16-12-2019 and TDS was deducted on the amount of R. 6Cr. Now the sale deed is being executed. Whether TDS is required to be deducted on R. 8Cr. paid earlier at the time of execution of the sale deed?
posted by
SANTOSH JAGANNATH PAI
on
Dec 21 2019 12:00AM