Tds 194 ia on sale of immovable property

CA Ravindra (Chartered Accountant) (93 Points)

10 March 2014  
To whom Section 194 IA TDS on Sale of Immovable Property will be applicable under following case study: A Purchase a property other than Agriculture Land for Consideration of Rs. 4.00 Cr. B, C, D, E, F & G are the co-owner of property who sales his property to A. Consideration of 4.00 Cr is distributed as follows: B: RS. 1.20 Cr C: Rs. 1.50 Cr D: Rs. 0.51 Cr E: Rs. 0.25 Cr F: Rs. 0.30 Cr G: Rs. 0.24 Cr Whether TDS to be deducted on 4.00 Cr or individual limit is to be checked?