Sec. 43ca

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Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2015 Dear Sir,

Sec 43ca is applicable on Transferable Development Rights (TDR)

Amol S Joglekar

Amol S Joglekar (Expert)
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26 August 2015 TDR is not covered. 43CA deals with land or building or both.

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2015 Thanks for your reply

Whether there is any recent case law
and further 194IA is applicable ?

Amol S Joglekar

Amol S Joglekar (Expert)
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26 August 2015 case laws are available for 50C. The same may be used for 43 CA ( Because the wording is same...50C is for Capital Asset and 43CA is for non capital asset)

194IA : TDS is always considered to VICARIOUS liability. It is, therefore, better to deduct tax u/s 194IA, else the traqnsferor should be asked to go to ITO and ask for exemption. No need to take the RISK by the purchaser.

Querist : Anonymous

Querist : Anonymous (Querist)

26 August 2015 OK as a Builder developer 43CA is not applicable to TDR sale as this section mentions land and building or both