Tds on property
This query is : Resolved
SUBIR GUHA
(Querist)
31 May 2016
B purchases a property worth 1 crore owned by four owners M,N,O and P. He pays 25 lacs each to M,N,O and P. Is 194-1A attracted ?
Rupesh Jain
(Expert)
31 May 2016
amount is below rs. 50 lacs tds is not applicable . but its better due to deduct due to property registry authority and income tax deptt see the buyer value and make objection on that.
31 May 2016
Not agree with expert.
TDS will be applicable sale value is Rs.1 Cr. which is more than Rs. 50 Lakhs.
Hopefully our following article is helpful :
https://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html
https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Click on THANK USER button to convey your appreciation.
TDS will be applicable sale value is Rs.1 Cr. which is more than Rs. 50 Lakhs.
Hopefully our following article is helpful :
https://taxguru.in/income-tax/notices-related-tds-immovable-property-purchase.html
https://www.caclubindia.com/articles/understanding-tds-on-purchase-of-immovable-property--26698.asp
Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
Note : If you find our reply useful. Click on THANK USER button to convey your appreciation.
Dhirajlal Rambhia
(Expert)
08 October 2021
TDS u/s. 194 IA will be applicable, as the tds is applicable based on aggregate value of the property.
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