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FAQ: Who will pay the TDS – Firm or Individual? - Property Hotline
Posted
May 26, 2016
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122
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May 26, 2016
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1:38Now PlayingExpert: Ashish Sodhani, Associate international tax practice, Nishith Desai & Associates.
Q: I own a partnership firm with 2 of my family members. One partner has invested in a property worth Rs 1.50 cr. Who should pay the 1% TDS - the partner or the firm?
Answer: TDS will be paid by the one whose name is in the agreement. So if the firm’s name is on the agreement, then the firm has to pay the TDS. Rates of the TDS are same as well as the threshold amount of 50 lakhs apply for a company, firm or an individual.
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