Answers!
Section no
Description
Cutoff
Rate of TDS
Examples
194 IA
Purchase of Immovable property
4999999
1%
On purchase of property more than 50 lacs, buyer has to deduct 1% and pay balance to party
Example
Suppose A sells property to B for Rs 100 lacs
B will pay him only 99 lacs and deposit remaining 1 lacs TDS to Government
Note:-
While other Sections are applicable only if we are doing business,
this section is applicable for all assessees
Exception
- This section is not applicable in case of Non Resident Seller
- This section is not applicable on Agricultural Land
Cut off
- No TDS to be deducted if Consideration is less than 50 lacs (Unlike Other Sections,On 50 Lacs,TDS is to be deducted)
- So Actual cut off is 4999999
Comment
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|
Section no |
Description |
Cutoff |
Rate of TDS |
Examples |
|
194 IA |
Purchase of Immovable property |
4999999 |
1% |
On purchase of property more than 50 lacs, buyer has to deduct 1% and pay balance to party |
Example
Suppose A sells property to B for Rs 100 lacs
B will pay him only 99 lacs and deposit remaining 1 lacs TDS to Government
Note:-
While other Sections are applicable only if we are doing business,
this section is applicable for all assessees
Exception
- This section is not applicable in case of Non Resident Seller
- This section is not applicable on Agricultural Land
Cut off
- No TDS to be deducted if Consideration is less than 50 lacs (Unlike Other Sections,On 50 Lacs,TDS is to be deducted)
- So Actual cut off is 4999999
Comment