Amendment of section 194-IA.

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..... immovable property shall include all charges of the nature of club membership fee, car parking fee, electricity or water facility fee, maintenance fee, advance fee or any other charges of similar nature, which are incidental to transfer of the immovable property; . Note: While Passing the bill in the Loksabha as on 18-7-2019, the following amendments were made: .....

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..... rty; . - Clause 45 of the Bill seeks to amend section 194-IA of the Income-tax Act relating to payment on transfer of certain immovable property other than agricultural land. Sub-section ( 1 ) of the said section provides for tax deduction at source at the rate of one per cent. on the amount of consideration paid for transfer of immovable property. Sub-section ( 2 .....

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