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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 ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

31-Jan-21 10:22

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

CA Inter

★ 16K+

31-Jan-21 23:58

If joint buyer ?

BALAMURALI UNNITHAN M S

CA Inter

★ 2K+

01-Feb-21 05:48

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

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

Doubt is , both buyer is need deduct tds .

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

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

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

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

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

Thank u mam , due to covid , rate is ?

There is no lower rate for 195

sudha reddy

Moderator