Tax deduction at source on immovable property now covers incidental charges like membership and parking fees under consideration for transfer. Amendment expands the Explanation to define consideration for transfer of any immovable property to include incidental charges such as club membership fees, car parking fees, electricity or water facility fees, maintenance fees, advance fees and other similar charges, thereby bringing those components within the base for tax deduction at source on transfers of immovable property.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax deduction at source on immovable property now covers incidental charges like membership and parking fees under consideration for transfer.
Amendment expands the Explanation to define consideration for transfer of any immovable property to include incidental charges such as club membership fees, car parking fees, electricity or water facility fees, maintenance fees, advance fees and other similar charges, thereby bringing those components within the base for tax deduction at source on transfers of immovable property.
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