Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182355 Points)
Replied 10 March 2017
" Is the TDS on property purchase applicable for purchase of agriculture land?"
No, TDS u/s. 194IA not applicable for RURAL agricultural land.
Amitav
(Chartered Accountant)
(5993 Points)
Replied 11 March 2017
Any sum paid by way of consideration for transfer of any immovable property (other than agricultural land) is covered under section 194-IA, provided the consideration for transfer of an immovable property is not less than Rs. 50 lakhs.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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