TDS on Purchase a property (Agricultural Land)
This query is : Resolved
05 July 2025
Sir,
If a domestic company purchase a Agricultural Land of Rs. 80/- Lacs from 5 Co-Owner equally on August 2024 and payment made in July 2024 through demand draft each person individually.
TDS u/s 194IA Purchase on Property applicable or not.
If a domestic company purchase a Agricultural Land of Rs. 80/- Lacs from 5 Co-Owner equally on August 2024 and payment made in July 2024 through demand draft each person individually.
TDS u/s 194IA Purchase on Property applicable or not.
05 July 2025
If the agricultural land is classified as "urban agricultural land" (i.e., it doesn't meet the criteria for rural agricultural land), then it is considered a capital asset and its sale would be subject to TDS under Section 194IA.
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