TMI BlogSection 194IA v/s 194 MX X X X Extracts X X X X X X X X Extracts X X X X ..... Section 194IA v/s 194 M X X X X Extracts X X X X X X X X Extracts X X X X ..... hase of Apartment" from the developer. In this context, it has become common practice for the flat buyer to deduct tax @ 1% u/s 194IA. However, for purpose of time limitation for claiming exemption u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 54 / 54F, booking of flat in an ongoing project is treated as "construction of property" and three years time is availed. Further, the documentation also makes it clear there is a "construction agr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eement" with the developer and the developer pays GST on the same treating it as "works contract". In the above context, I really wonder, after introduction of specific section 194M whether the perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n who has booked an apartment should deduct tax u/s 194M only and not 194IA
I invite views of the experts. X X X X Extracts X X X X X X X X Extracts X X X X
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