TDS ON UNDER CONSTRUCTION PROPERTY

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  1. Dilip Sanghavi

    Dilip Sanghavi New Member

    Dear fellow professional,

    Greetings!

    I have a property under construction. It was purchased in Feb 2010. Construction was on hold since February 2013.

    I have paid 65% so far. When construction resumes, instalments will commence.

    Do I need to deduct tax on entire value of the property including all payments starting 2010?

    Many thanks.

    Regards,
    Dilip
     
    Dilip Sanghavi, Apr 23, 2015
    #1
  2. Manoj Mehra

    Manoj Mehra Active Member

    You are only required to deduct TDS on the payments made after 1st June 2013
     
    Manoj Mehra, Apr 24, 2015
    #2
  3. Dilip Sanghavi

    Dilip Sanghavi New Member

    Many thanks, Manoj.
     
    Dilip Sanghavi, Apr 24, 2015
    #3
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