Section 197a-ia

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Querist : Anonymous

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14 May 2014 A person who is a buyer of immovable property paid Rs. 30 lacs each to two co-owners of a single immovable property. Thus, total consideration exceeds Rs. 50 lacs. Please clarify whether TDS has to be made as per Section 197A-IA.

15 May 2014 yes. 194-IA applies. number of buyers/sellers is not relevant. once the total values exceed Rs 50 lakhs, 194-IA applies.

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Querist : Anonymous

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31 May 2014 As per me, person is also an important condition in Section 194-IA as payment of any sum is in relation to a resident transferor. Therefore, if payment exceeds Rs 50 lacs to each transferor, only then this section applies. Kindly let us know if there is any change in your opinion.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 May 2014 As per me, person is also an important condition in Section 194-IA as payment of any sum is in relation to a resident transferor. Therefore, if payment exceeds Rs 50 lacs to each transferor, only then this section applies. Kindly let us know if there is any change in your opinion.

31 May 2014 no...number of buyers is not relevant. the overall value is to be considered. each seller's share is not considered.


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