This discussion clarifies the applicability of Section 194IA regarding property purchases. If an individual buys two separate flats from the same builder, and the value of each individual flat does not exceed 50 Lakhs, then Section 194IA is not applicable, even if the total purchase value exceeds 50 Lakhs.
13 August 2021
IF SOME ONE WANT TO BUY 2 FLATS WHICH VALUE IS FLAT 1 IS 35 LCS AND 2 IS 40 LCS BOTH TOTAL IS 75 LCS PURCHASE FROM SAME BUILDER BOTH FLATS SALE DEED REGISTERED SEPERATELY IN THIS SITUATION S 194 IA APPLICABLE OR NOT?