Question ID : 38030

TDS on property

Mr. X has alloted a plot (Lease -90 years)by Authority for Rs. 47.00lacs and Mr. X has opt for payment option as 10% down payment i.e 4.7 lacs immediately and balance in 10 equalhalf yearly instalment with 10.5% p.a int and Lease Rent-10% will also levied after 5 years My querry is whether Mr. X has to deduct 1% TDS of payment as total consideration paid by Mr. X is exceeds Rs. 50 lacs (with Int) Whether TDS will deducted on LeaseRent also.

posted by SANDEEP KAPOOR on Mar 10 2019 12:00AM