Menu
TDS u/s 94ia
Is TDS needs to be deducted in case of similar buyer & seller for more than 1 property which individually not exceeds limit of Rs.50 lakhs but combined it exceeds limit. Each property transaction has different agreements and payments
Replies (4)
Primary facie, these to be treated as separate properties. . Each with a limit of 50 lacs ..
Once .. check those. . Provisos; Explanations etc. - For Sec 94IA
each separate property is considered.. so if value of each property is less than 50 lakhs no need to deduct tax
As per sectiom 194ia, tds is deducted at 1 percent only when the amount of any of the property sold exceeds 50 lakhs. Since your properties have different agreements and transactions, you are not liable to deduct tds
Recent Threads
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
Related Threads
CAclubindia
