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TDS Threshold Under 194IA Applies Per Seller: ITAT Ahmedabad
Case Law Details
- Case Name
- Archanaben Rajendrasingh Deval Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Ahmedabad
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Archanaben Rajendrasingh Deval Vs ITO (ITAT Ahmedabad)
TDS default set aside: ITAT Ahmedabad holds threshold u/s 194IA applies per seller
Ahmedabad ITAT quashed the demand of ₹1,00,907 raised u/s s 201(1) & 201(1A) for failure to deduct TDS u/s 194IA, holding that the ₹50 lakh threshold must be tested with respect to each individual seller, & not the transferee’s aggregate share.
Assessee purchased property jointly for ₹1.23 crore, with her share being ₹53.67 lakh. Payments to two individual sellers were ₹21.83 lakh & ₹31.83 lakh, both below ₹50 lak...
Author Info
This decision wouldn’t be applicable now as proviso was inserted by Act No. 15 of 2024, w.e.f. 1-10-2024 providing applicability qua agreement value irrespective of the number of transferors/ transferee. Proviso reads :
“Provided that where there is more than one transferor or transferee in respect of any immovable property, then the consideration shall be the aggregate of the amounts paid or payable by all the transferees to the transferor or all the transferors for transfer of such immovable property”