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194 IA

Direct Taxation

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 ?


Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

31-Jan-21 10:22

278

Answers (18)

194IA pprescribes that a buyer of immovable property that costs more than 50 lakhs is required to deduct tds while paying the seller


Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

16K+

31-Jan-21 23:58

If joint buyer ?


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

01-Feb-21 05:48

Thread Starter

Balamurali Unnithan M S

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.


Sudha Reddy

Sudha Reddy

CA Final

20K+

01-Feb-21 08:41

Doubt is , both buyer is need deduct tds .


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

01-Feb-21 20:14

Fine


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

02-Feb-21 08:35

Rate of tds now , 20.3?


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

02-Feb-21 13:47

Hi Mam


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

02-Feb-21 19:57

Thread Starter

Balamurali Unnithan M S

Rate of tds now , 20.3?

Uptil 13th May 2020 it was 1% from 14th May 2020 to 31st Mar 2021 its 0.75%


Sudha Reddy

Sudha Reddy

CA Final

20K+

02-Feb-21 20:17

195 Applicable , payment to NRI ies , 20.3 applicable ?


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

02-Feb-21 20:24

Thread Starter

Balamurali Unnithan M S

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%


Sudha Reddy

Sudha Reddy

CA Final

20K+

02-Feb-21 20:45

Thank u mam , due to covid , rate is ?


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

02-Feb-21 21:43

Thread Starter

Balamurali Unnithan M S

Thank u mam , due to covid , rate is ?

There is no lower rate for 195


Sudha Reddy

Sudha Reddy

CA Final

20K+

03-Feb-21 07:36

Property sold within 2 years - 20% And sold after 2 years - 20.8??


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

03-Feb-21 09:17

Rate of tds? 195


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

04-Feb-21 19:36

Thread Starter

Balamurali Unnithan M S

Property sold within 2 years - 20% And sold after 2 years - 20.8??

20% is the TDS and 0.8 is due to cess


Sudha Reddy

Sudha Reddy

CA Final

20K+

05-Feb-21 10:04

Ok,thank u mam


Thread Starter

Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

3K+

05-Feb-21 10:06

Offer