Differance between tds sec

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2014 Hi all,
To the extend best of my knowledge the dept has broken the sec 194I (TDS on rent) in 2 parts
194IA:- TDS on rent of any plan, machinery & equipment
194IB:- TDS on rent of any land & building incl factory
BUT
There is also TDS on purchase of immovable property (above 50 lakhs) U/S 194IA @ 1%

Now my query is how there can 2 different rates of TDS for different Calgary of payment under same sec ie 194IA?????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

17 December 2014 you got confused with sections.

Sec.194I is the section deal with both renting of building, plant & equipment everything. Just rate will vary in the same section

Sec.194IA is separate section deals with the TDS on transfer of immovable property

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 No Sir i have chart downloaded from govt site where 194I is broken up in 2 parts 194Ia & 194Ib.

https://www.incometaxindia.gov.in/Pages/i-am/individuals.aspx

and again they have given different sec for TDS on immovable property.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

18 December 2014 Please read clearly. Sec.194Ia & Sec.194Ib

both are the same section has the only small "a" & "b'

this may be referred as clause

but the sec.194IA is the difference section

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now