What should be the TDS deduction u/s 194-IA if the value of the property is above 1 crore?
Do we have to add surcharge?
Will it be 1% or 1.10% ?
Thanks.
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Tds 194-ia rate
Replies (3)
If payment is made to a Non-Resident then section 194-IA will not be applicable. Rather section 195 will be attracted and TDS is required to be deducted @ 20%+EC&SHEC on the sale consideration.
Surcharge @ 10% will be applicable if amount paid exceeds Rs 1 crore. The limit of Rs 50,00,000/- is not applicable in case of payments made to NRI’s.
Thanks Mr. Aryan.
So payment made toward property above 1 crore to a resident does not attract surcharge, right?
In my opinion No surcharge on such payment to resident....
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