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Tag: Form 16B

TDS-ON-PROPERTY-UNDER-SECTION-194-IA-OF-INCOME-TAX-ACT

TDS ON PROPERTY UNDER SECTION 194-IA OF INCOME TAX ACT

19th September 201820th June 2019 CA Sakshi Agarwal

APPLICABILITY OF TDS Any person who is purchasing an immovable property (other than rural agricultural land) worth Rs. 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor. This section covers residential property, commercial property, as well as land. However, transactions pertaining […]

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