Applicability of sec. 194i & 194ia in case of lease hold

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BHAVESH (Querist)
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23 May 2016 As per above mentioned subject, applicability of Section 194I & 194IA in case property/ Lease hold property purchased from GIDC ( Gujarat Industrial Development Corporation). I have purchase an Industrial Plot form GIDC on Lease of 99 Years. Is is attract TDS on purchase of Lease hold property from GIDC (Govt. Undertaking) ?Please guide me. Please provide case or notification/circulars for the same.

Rupesh Jain

Rupesh Jain (Expert)
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23 May 2016 if value of profperty exceeds rs. 50 lacs the you have to deduct the tax, if you are paying rent then u/s 194I deduct the tax , if it exceeds the limit rs. 180000/- per year.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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23 May 2016 since it is purchase section 194IA excess of 50 lakhs only apply since there is question of annual rent not arise.

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Applicability of sec. 194i & 194ia in case of lease hold

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