Sec 194 ia

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2014 Hi all,
My query to u all is, if any purchaser of immovable property does not deduct TDS on amt paid to seller (other then agricultural land) then what are its consequences??
pls reply urgently...

18 February 2014 there is no consequence for the seller. he can pay his own taxes at his his own will.

however, the purchaser shall have to be liable as assessee in default..

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2014 kk...thank u... but what will b the liability for assessee in default, because there will not b any diss-allowance of exp, since exp is of capital nature????


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