Section 197a-ia


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
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.

Avatar

Querist : Anonymous

Profile Image
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.

Avatar

Querist : Anonymous

Profile Image
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.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
07 October 2026
Senior Account Manager

Amplio Invest

Mumbai

M.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details