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Section 194- ia

This query is : Resolved 
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(Querist)
12 August 2014 The assessee has sold the house property to a builder for an amount of Rs.70 lacs. In discharge to the same the builder gave Rs.8 lacs as advance, plot of land of Rs.32lacs and the balance amount shall be utilized for consturction of house property.

My Question is , that how will in this case Section 194-ia will be applicable.

In the sale deed the builder has mentioned that he has given Rs.8 lacs in cash and balance has alloted residential house property.
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Rupesh Jain

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Rupesh Jain (Expert)
12 August 2014 if total amount of sale is above rs. 50 lacs then this section apply.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 August 2014 irrespective of the mode of discharge of consideration, TDS has to be deducted.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
13 August 2014 agree with above views..........
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