50 lksh immovable property

326 views
User Avatar

196 Points Posted on 26 December 2022
Dear sir , my client purchased 50 lakhs land .
which return i need to file ? and we need debit the tds anything .
0 Reply Share Follow
On 26 December 2022 at 16:51 Report
Replies (3)
Quick Summary
This discussion clarifies the applicability of TDS under Section 194-IA for property purchases exceeding 50 lakhs, including land. It confirms that TDS is indeed applicable in such cases. However, the correct Income Tax Return (ITR) to file depends on the individual's overall income sources, not solely on the property purchase.

User Avatar

SEO Sai Gr. Hosp.
212503 Points Posted on 26 December 2022

ITR need to be filed as per his income details.

TDS u/s. 194Ia will be applicable on the purchase of any property, including land for Rs. 50 lakhs or above.

1 Reply
On 26 December 2022 at 18:21
User Avatar

196 Points Posted on 27 December 2022
Thanks for reply . which itr applicable
Reply
On 27 December 2022 at 08:45
User Avatar

SEO Sai Gr. Hosp.
212503 Points Posted on 27 December 2022

As said earlier, what are income heads?

e.g. salary, capital gain, rental income etc...

Based on these, ITR can be decided; not just on purchase of property.

Reply
On 27 December 2022 at 09:35

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. LTCG on property sale
  2. Capital gains incidence due to bonus shares
  3. Amendment of Object Clause of Memorandum
  4. How Can I Request a Refund for an Accidental Airte
  5. TDS on salary paid in cash
  6. YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
  7. Last Date To Fill ITR For Non-Audit Case
  8. Guidance Required on Filing Fresh Registration und
  9. IT Return Refund Status AY 2026-27
  10. Clarification Regarding Income Tax Demand Notice

More recent discussions | Post

Related Topics :

Loading