Hi,
Sold agriculture land for Rs. 90 Lakhs
TDS will be deducted by the Purchaser?
5 Replies
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 15 July 2021
1 % amount exceeding Rs.50 Lakhs u/s 194IA .
So 90000 must deducted by the buyer in Form 26QB.
But,It's as agricultural land as per IT provisions -No tax impact,Means no Long Term /Short Term Capital Gain ,Therefore no need to deduct TDS.
So 90000 must deducted by the buyer in Form 26QB.
But,It's as agricultural land as per IT provisions -No tax impact,Means no Long Term /Short Term Capital Gain ,Therefore no need to deduct TDS.
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 15 July 2021
Please confirm, Then no TDS /Income Tax Applicable.
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