194 IA
Applicable to total amount or if two buyers of the property and exceeds Rs .50 lakhs sales value , two buyers need to deduct while making payment ?
Answers (18)
If joint buyer ?
Any number of buyers, if the overall cost of immovable property is more than Rs.50 lakhs then the buyer (all buyers in case of joint buyer) has to deduct.
195 Applicable , payment to NRI ies , 20.3 applicable ?
When a resident buys property from an NRI, she/he must deduct TDS at 20% if the property has been held for more than two years and at 30% if the property is being sold within two years. The deduction must include TDS plus surcharge, health and education cess. So it is 20.8%
Property sold within 2 years - 20% And sold after 2 years - 20.8??
20% is the TDS and 0.8 is due to cess