19 February 2014
We have purchased a Industrial Land from One proprietorship firm,which the original allottee of Andhra Pradesh Industrial Infrastructure Corporation. The Value is above Rs.1 Crore.
Is this transaction attracts a TDS u/s.194IA.
If applicable who is liable to pay the TDS. Is transferor(Seller) or transferee (purchaser).
20 February 2014
Except in the dealing of Agricultural land all land or building purchase attracts TDS of 1% and that is to be deducted by the purchaser and he has to pay the same accordingly as per the provisions of the act.
CAclubindia
