at which amount the tax is deducted
whether at Circle rate or actual consideration
eg: Actual consideration is 160 lacs
DM Circle rate is 210 lacs
so at which amount the tax will be deducted
Menu
194-i-a
Replies (5)
Actual consideration
It would be on actual consideration...
On Actual Consideration.. In your case Rs. 160 L
TDS u/s. 194IA would be on actual consideration.
But the difference between the stamp duly value and actual consideration (diff. above 50,000/-) would be taxable in the hands of the recipient as per amended sec. 56(2)(vii)(b) under income from other sources.
Thanks rachit, I hadn't section 56 on my mind like others.
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
