WebAny 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. WebMar 1, 2024 · The rate of TDS under Section 194-IA is 1% of the consideration paid or payable for the transfer of the property. If the seller does not provide a valid PAN, the TDS rate will be 20%. Time of Deduction and Deposit
Section 194-IA of the Income Tax Act - Marg ERP
WebNov 23, 2024 · However, if transfer is made without payment of any consideration like in case of gift, then this section will not apply. Provisions for Non Resident Indian: If payment is made to a Non-Resident then section 194-IA will not be applicable. Rather section 195 will be attracted and TDS is required to be deducted @ 20% + EC & SHEC on the sale ... WebApr 11, 2024 · No.370142/06/2024-TPL dated 05th April, 2024. Department issued an Clarification regarding deduction of TDS under section 192 read with sub-section (IA) of … greenline water bus online ticket
TDS- Section 194IA Payment on transfer of immovable property - TaxG…
WebThe Finance Act, 2013 introduced Section 194-IA in the Income-tax Act, 1961 (the Act) with effect from 1 June 2013 wherein the transferee making payment on the transfer of certain immovable property other than agricultural land, is responsible to deduct tax at source at the rate of 1 per cent. Further, where the WebApr 11, 2024 · Deduction of TDS under Section 194-IA is not applicable in the following circumstances: Threshold of Rs.50 Lakhs- No TDS shall be deducted if the consideration … WebFeb 3, 2024 · As per section 194A, TDS on interest other than interest on securities is required to be deducted by any person other than Individual or HUF at the rate of 10%, … green line water bus ticket