Differance between tds sec

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 December 2014 Hi all,
To the extend best of my knowledge the dept has broken the sec 194I (TDS on rent) in 2 parts
194IA:- TDS on rent of any plan, machinery & equipment
194IB:- TDS on rent of any land & building incl factory
BUT
There is also TDS on purchase of immovable property (above 50 lakhs) U/S 194IA @ 1%

Now my query is how there can 2 different rates of TDS for different Calgary of payment under same sec ie 194IA?????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 December 2014 you got confused with sections.

Sec.194I is the section deal with both renting of building, plant & equipment everything. Just rate will vary in the same section

Sec.194IA is separate section deals with the TDS on transfer of immovable property

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2014 No Sir i have chart downloaded from govt site where 194I is broken up in 2 parts 194Ia & 194Ib.

http://www.incometaxindia.gov.in/Pages/i-am/individuals.aspx

and again they have given different sec for TDS on immovable property.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 December 2014 Please read clearly. Sec.194Ia & Sec.194Ib

both are the same section has the only small "a" & "b'

this may be referred as clause

but the sec.194IA is the difference section

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