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Regarding - section 194 ia

This query is : Resolved 
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(Querist)
12 June 2014 Please tell me
what consequences of non compliance of section 194IA
( what will be happened, if A person( Purchaser ) has not deducted TDS from sale consideration. )
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
13 June 2014 he shall be liable for interest under section 201(1A)

plus he can be treated as an assessee in default and can be penalised in form of being ordered to pay tax on whole of such income.
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brahma gupta

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brahma gupta (Querist)
17 June 2014 thanks Nikhil sir!
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