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trivedi radhika navinchandra (Querist)
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14 March 2015 if two person acquire a single property in joint name by paying rs.30lakhs each whether tds required to be deducted u/s 194IA???

CA ANILKUMAR B.COM ACA DISA

CA ANILKUMAR B.COM ACA DISA (Expert)
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14 March 2015 If a property transaction involves more than one buyer and share of each buyer in the property is less than Rs. 50 Lacs but the value of the property in aggregate is more than Rs. 50 lacs then provisions of section 194-IA will be applicable. In such case, TDS will be deducted and deposited by each buyer in respect of their respective share in the property.