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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 Any person, being a transferee, responsible for paying (other than the pe .....

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ichever 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% on payment made for purchase of immovable property to a person resident in India, except for .....

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ovable property is purchased from a non-resident person for any value, no TDS is required to be deducted under this section. However, TDS shall be deducted under section 195. It is not necessary that the land or building should be situated in India. .....

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on Account Number i.e. section 203A is not applicable. Every person who is purchasing property of 50 lakhs or more have to deduct TDS @ 1% of the payment made to the seller. In case the seller does not have PAN, then instead of 1%, TDS will be applic .....

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