Applicability of TDS u/s 194IA - purchase of property value exceeding Rs.50 Lakh

Murugesan (Tax consultant) (43 Points)

05 October 2019  

Dear Experts,

One of my client purchased property worth exceeding Rs.50 Lakh on 23.09.2019, the entire sale consideration is adjusted with the advance which was paid to the seller in the year 2011. TDS @ 1% u/s 194IA is applicable? Kindly advice.