Tds

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Querist : Anonymous (Querist)
18 October 2014 Query related to sec 194 IA.

there has been a transfer of immovable property whose consideration is more than 50 lakhs. but the amount is paid in installments. The sale agreement was entered after 1st june 2013 but the first installment as an advance was paid before 1st of june 2013. Should the TDS be deducted ?
is Sec 194 IA applicable in the above case ?
Please help.

18 October 2014 As the sale agreement was entered after 1st June 2013, Sec 194 IA applicable and TDS has to be deducted. For the advance payment made before 1st June 2013 no TDS is required.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 October 2014 Thank you sir. It has helped me.


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