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Section 194-IA - TDS on payment on transfer of certain immovable property

Income Tax - Deduction of Tax at Source (TDS), Collection of Tax at Source (TCS) / Withholding Tax - 17 - SEC - 194-IA: TDS ON PAYMENT ON TRANSFER OF CERTAIN IMMOVABLE PROPERTY Deductor - Any purchaser (other than person referred to in section 194LA) Deductee - Any seller being resident Time of Deduction - At the time of credit or payment, whichever is earlier. Rate of TDS - 1% of the total consideration for transfer of immovable property Notes: Every person is liable to deduct tax at source @ 1 .....

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uld be situated in India. If any person is purchasing property outside India from a person resident in India, he is liable to deduct tax at source on sale consideration @ 1%. In case section 194-IA is attracted then the purchaser isn t required to obtain TAN, i.e. Tax Deduction Account Number i.e. section 203A is not applicable. Every person who is purchasing property of 50 lakhs or more who have to deduct TDS @ 1% of the payment made to the seller. In case the seller does not have PAN, then ins .....

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