23 May 2016
As per above mentioned subject, applicability of Section 194I & 194IA in case property/ Lease hold property purchased from GIDC ( Gujarat Industrial Development Corporation). I have purchase an Industrial Plot form GIDC on Lease of 99 Years. Is is attract TDS on purchase of Lease hold property from GIDC (Govt. Undertaking) ?Please guide me. Please provide case or notification/circulars for the same.
23 May 2016
if value of profperty exceeds rs. 50 lacs the you have to deduct the tax, if you are paying rent then u/s 194I deduct the tax , if it exceeds the limit rs. 180000/- per year.
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