Hi!
A commercial land has been purchased by a public limited company from a state government undertaking worth Rs 2 crores. Is TDS required to be deducted @ 1% U/S 194IA being payment to be made to government.
2 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 26 February 2022
Tds not required to be deducted in this case
sabyasachi mukherjee
(27574 Points)
Replied 27 February 2022
Threshold limit is Rs.50 lacs.
1% is to be deducted in form 26 BQ.
1% is to be deducted in form 26 BQ.
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