TDS ON SALE OF IMMOVABLE PROPERTY-PPT by CA. Shiv K. Jindal
Find attached here with PPT by CA. Shiv K. Jindal covering various asspects on TDS ON PAYMENT ON TRANSFER OF CERTAIN IMMOVABLE PROPERTY OTHER THAN AGRICULTURAL LAND section 194-IA.
I fail to understand how this provision will check unaccounted money, which is a norm in property transactions as TDS is applicable merely on apparent consideration or the consideration mentioned in the sale deed and not on the actual consideration. In my view the government(State) should reduce stamp duty drastically and computerise the data relating to properties and it will probable encourage some of the tax payers to state actual consideration as sale consideration. CA P.L.Mittal
I fail to understand how this provision will check unaccounted money, which is a norm in property transactions as TDS is applicable merely on apparent consideration or the consideration mentioned in the sale deed and not on the actual consideration. In my view the government(State) should reduce stamp duty drastically and computerise the data relating to properties and it will probable encourage some of the tax payers to state actual consideration as sale consideration. CA P.L.Mittal
ReplyDeleteThis is to stop the use of property for conversion of unaccounted cash to white and not meant to reduce cash element in property transactions.
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