tag:blogger.com,1999:blog-5341269791906881059.post5244108476912638365..comments2024-03-21T17:49:22.690+05:30Comments on TAX BY MANISH: TDS on Immovable Property U/s 194IAtaxbymanishhttp://www.blogger.com/profile/03444845716812998262noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5341269791906881059.post-59385098273047843812013-06-05T12:29:50.645+05:302013-06-05T12:29:50.645+05:30what will happen if the property is jointly owned ...what will happen if the property is jointly owned by 2 or more persons? Will they all deduct TDS in their proportionate ownership & paid separately ???Anonymoushttps://www.blogger.com/profile/09431087650511098945noreply@blogger.comtag:blogger.com,1999:blog-5341269791906881059.post-20709488055754148972013-06-03T10:58:13.402+05:302013-06-03T10:58:13.402+05:30To add (clue): Refer section 27 (iii b), section 2...To add (clue): Refer section 27 (iii b), section 2 (47) (vi)(rws 269UA)Unknownhttps://www.blogger.com/profile/14593271599219087418noreply@blogger.comtag:blogger.com,1999:blog-5341269791906881059.post-91649781108192619622013-06-02T16:25:39.113+05:302013-06-02T16:25:39.113+05:30As per the latest media report (ref. TOI of June 2...As per the latest media report (ref. TOI of June 2), the TDS requirement has become a reality wef June 1.<br />According to a view, not without substance, even so, on a plain reading and understanding of the provision, there is no clarity on certain points. That is, especially, having regard to the purport of the provision, and its actual terms. The lack of clarity is particularly on following:<br />1. As to whether, compliance with the requirement is called for,- only at the time of registration of the document evidencing the transaction; for instance, if it be a 'sale', only at the time of registration of 'Sale (Conveyance) deed’? <br />2.Whether, in view of the special definition,- which, in comparison to the more comprehensive definitions elsewhere in the IT Act for other purposes, is prima facie limited in its scope, so can have no application to cases where the subject matter of the transaction is 'unit' of a building (i.e. Flat or Apartment)?<br />Pending any possible move from the Revenue, Tax Experts at large, provided share the doubts raised, will do well to come out with a well-reasoned and logical view, to be of help to the 'mandatees' of the requirement!<br />Anonymousnoreply@blogger.com