I am buying an immovable property for exactly Rs. 50 lacs from a resident individual. Will the provisions of sec 194 ia attract? What will be your opinion if the consideration is 1.35 crores and I have entered into 3 agreements of Rs. 45 lacs each with the same person (just for the sake of avoiding tds provisions)?
Menu
Doubt regarding sec 194 ia
Replies (1)
194-IA. (2) says, "No deduction shall be made where the consideration for the transfer of an immovable property is less than fifty lakh rupees."
If the consideration is exactly 50,00,000, then 194-!A applies & TDS needs to be deducted.
Note the words "consideration for the transfer of an immovable property" Hence if the transfer is in respect of a single property then TDS will apply.
Recent Threads
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
Related Threads
CAclubindia
