Rakesh entered into a Joint Development Agreement with Reality Builders Pvt. Ltd. for developing a project on the land owned by him during the previous year 2018-19 and the builder who agreed to make the payment of ₹50 l
CS Executive · Tax Laws · PYQS · December 2019
Rakesh entered into a Joint Development Agreement with Reality Builders Pvt. Ltd. for developing a project on the land owned by him during the previous year 2018-19 and the builder who agreed to make the payment of ₹50 lakh to Rakesh paid the same to him on execution of the Joint Development Agreement. The amount of TDS u/s 194-IC required to be deducted on the amount of ₹50 lakh shall be __________ .
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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