194 ia
This query is : Resolved
29 July 2014
A commercial Plot in municipal corporation area purchase for Rs. 80 lac from 5 person. Payment made to each person rs. 16 lac. should i deduct tax u/s 194 IA
CA SUNIL K GARG
(Expert)
29 July 2014
section 194 IA is applicable , once the value of property exceeds rs 50 lacs. hence in ur case tds will deducted even if payment made to each seller is less than 50 lacs
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