DAB Builders entered into a registered agreement with Lallu Ram Yadav owning a land located at Jaipur under Joint Development Agreement to develop a real estate project on such land and in consideration of his share of b

CS Executive · Tax Laws · PYQS · December 2020
DAB Builders entered into a registered agreement with Lallu Ram Yadav owning a land located at Jaipur under Joint Development Agreement to develop a real estate project on such land and in consideration of his share of being land in such project on the date of entering in the Joint Development Agreement paid an amount of ₹50 lakh by Account Payee Cheque in January, 2020. The amount of TDS to be deducted by DAB Builders on such payment shall be
(A) ₹5,00,000
(B) ₹50,000
(C) ₹2,50,000
(D) ₹1,00,000

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Tax Deducted at Source (TDS)

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