Section 194- ia
This query is : Resolved
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.
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.
12 August 2014
if total amount of sale is above rs. 50 lacs then this section apply.
12 August 2014
irrespective of the mode of discharge of consideration, TDS has to be deducted.
13 August 2014
agree with above views..........
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