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

CA Inter

★ 16K+

31-Jan-21 23:58

If joint buyer ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

01-Feb-21 05:48

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

Moderator

01-Feb-21 08:41

Doubt is , both buyer is need deduct tds .

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

01-Feb-21 20:14

Yes

sudha reddy

Moderator

02-Feb-21 08:20

Fine

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 08:35

Rate of tds now , 20.3?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 13:47

Hi Mam

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 19:57

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

sudha reddy

Moderator

02-Feb-21 20:17

195 Applicable , payment to NRI ies , 20.3 applicable ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 20:24

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

Moderator

02-Feb-21 20:45

Thank u mam , due to covid , rate is ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

02-Feb-21 21:43

There is no lower rate for 195

sudha reddy

Moderator

03-Feb-21 07:36

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

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

03-Feb-21 09:17

Can you elaborate.

Suraj Lakhotia

Admin

04-Feb-21 19:03

Rate of tds? 195

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

04-Feb-21 19:36

20% is the TDS and 0.8 is due to cess

sudha reddy

Moderator

05-Feb-21 10:04

Ok,thank u mam

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

05-Feb-21 10:06