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Section 194IA

dsd1986@gmail.com (48 Points)

18 February 2019

I am planning to buy a house at Rs4500000 for which stamp duty value is 5500000. do I need to deduct TDS or not required. I asked one legal expert at my place he said since consideration is below 50 lacs so not required. please confirm your expert opinions as well. Regards.

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5 Replies

Pratik Surve (Assistant Professor ) (571 Points)
Replied 18 February 2019

yes
no need deduct the TDS for the same.
if the basic value of property is exceed 50 lacs then need to deduct TDS @ 1%

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 18 February 2019

if value as per agreement exceeds 50lacs then only tds @ 1 % us required to be made. since your stamp duty value exceeds 50lacs so TDS us required to be made

PUSHP KUMAR SAHU (CA FINAL ASPIRANT) (3115 Points)
Replied 18 February 2019

the word 'consideration' has been used in the section 194IA ....therefore it does not matter about stamp value....only consideration portion will be seen ...i.e. 45 lakhs in your case...

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