Section 194ia
CA Parth J Mody (Practicing CA) (32 Points)
13 April 2016
Does section 194IA applies to transfer of tenancy reights to ownership??
2 Replies
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 13 April 2016
yes
tds under section 194IA needs to be deducted ,if sale is above Rs 50,00,000
CA Parth J Mody
(Practicing CA)
(32 Points)
Replied 13 April 2016
But there is no outflow of cash. Consideration as per purchase agreement is 65 lacss. But rent paid in prior years is the only consideration which is taken as income from house property by the other party.
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