Tds on purchase of property
This query is : Resolved
11 March 2019
I have to purchase an agriculture land for goat farming. Whether there is an issue of TDS on account of purchasing of agriculture land.
11 March 2019
No TDS. Inference - 194IA.
12 March 2019
No,TDS. Inference - 194IA.
Will u sir explain to me in detail ? I am not able to understand.
Will u sir explain to me in detail ? I am not able to understand.
12 March 2019
If the residential status of the seller is 'resident', the buyer need not deduct income
tax on the purchase of immovable property irrespective of the value. For details
please read section 194IA of the income tax act,1961 in www.incometaxindia.gov.in.
tax on the purchase of immovable property irrespective of the value. For details
please read section 194IA of the income tax act,1961 in www.incometaxindia.gov.in.
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