Is sale of development risghts covered u/s 194ia?
This query is : Resolved
30 January 2014
Is the sale of Development Rights covered under section 194-IA as sale of an immovable property? Should TDS be deducted while purchasing development rights?
30 January 2014
Development rights is NOT an immovable property. It is an intangible property.
Accordingly Section 194-IA is NOT applicable to sale of development rights.
Accordingly Section 194-IA is NOT applicable to sale of development rights.
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