Applicability of sec 194ia
This query is : Resolved
05 June 2013
Agreement of sale entered in Apr-2013 for Rs. 55 lakhs and part consideration of Rs. 15 lakhs was paid during Apr-13 and balance consideration of Rs. 40 lakhs was paid in June-13. In this case whether TDS is applicable and if yes, on which amount?
05 June 2013
i) Amount credited in vendor's account ie., Rs.55 lacks, is prior to the enforcement of the section.
ii) Amount paid after the enforcement is less than the threshold limit.
Hence deduction under section 194IA will not apply.
ii) Amount paid after the enforcement is less than the threshold limit.
Hence deduction under section 194IA will not apply.
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