Section 194ia

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subramaniam.v (Querist)
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27 November 2014 sale agreement made in 2011.propertyvalue 78laks.adv paid from 2011 to 31.5.13 is 15laks.amount paid from 1.6.13 till date is 55laks.pending 8laks.whether section 194Ia applicalble.
kindly clarify
thks and regards
subramaniam
9884173610

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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27 November 2014

Yes Section 194-IA will be applicable only if considation received exceeds Rs 50 Lacs and entered on/after 1/6/13 then TDS required to be deducted otherwise not

In your case only installment of sales consideration received for which sales agreement made before 1st June 2013, therefore Section 194-IA would not be attract

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Rupesh Jain

Rupesh Jain (Expert)
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28 November 2014 yes this section applicable in sales value above rs. 50 lacs of property. and you have to deduct the tds when you make registered the property then you have to submit the proof of this.

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