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Section 194IA

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Section 194IA: TDS on purchase and sale of immovable property

Income Tax : Understand TDS on immovable property transactions. Section 194-IA mandates TDS deduction at 1% for sale consideration exceeding Rs...

May 10, 2024 3687 Views 0 comment Print

Procedure to file TDS Return on Sale of Property & Download Form 16B

Income Tax : "Discover a step-by-step guide to file TDS on property sale with Form 26QB. From filling the form to downloading Form 16B, simplif...

November 25, 2023 2601 Views 1 comment Print

TDS on Immovable Property Purchase: Section 194IA Explained

Income Tax : Learn about TDS on the purchase of immovable property in India under Section 194IA. Understand the rules, rates, and consequences ...

October 28, 2023 4446 Views 2 comments Print

Understanding TDS on Immovable Property Purchases: A Buyer’s Guide

Income Tax : Learn about Section 194-IA and essential aspects of TDS when buying property in India. Explore deductor-deductee roles, exemption ...

October 26, 2023 2376 Views 0 comment Print

Tax Implication on Sale & Purchase of Immovable Property for Seller & Buyer

Income Tax : Learn about tax implications for sellers and buyers of immovable property. Understand capital gains, stamp duty, tax withholding, ...

September 1, 2023 39009 Views 7 comments Print

Latest News

Reasons for Zero Credit in Form 16B TDS Certificate on Sale of Immovable property

Income Tax : It has been observed that deductors are wrongly entering the tax amount deducted on sale of property in 'interest' or 'others' or ...

November 5, 2013 6028 Views 0 comment Print

Latest Judiciary

Denial of exemption u/s. 54 due to mistake committed by developer unjustified: ITAT Mumbai

Income Tax : ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act unjustified as appellant cannot be penalized for ...

March 18, 2024 303 Views 0 comment Print

TDS u/s. 194-IA deducted on assets sold during liquidation should be refunded to corporate debtor

Corporate Law : NCLT Ahmedabad held that the amount of TDS deducted under section 194-IA on assets sold during the process of liquidation should b...

December 21, 2023 2880 Views 0 comment Print

Section 54B Capital Gains Exemption: ITAT remands Matter to AO

Income Tax : ITAT Chennai's ruling in Smt. Nagappan Suganthi Vs ACIT. Non-consideration of evidence on deduction claim u/s 54B and capital gain...

October 22, 2023 303 Views 0 comment Print

Actual status of payment by each co-owner needs to be verified in terms of applicability of section 194IA

Income Tax : ITAT Raipur resorted the matter back to AO to verify the actual status of payment of consideration by each co-owner vis-à-vis app...

October 20, 2023 288 Views 0 comment Print

Long-term capital loss u/s 50B allowed as Form 3CEA filed during assessment proceeding

Income Tax : ITAT Kolkata held that rejection of claim of long-term capital loss u/s 50B of the Income Tax Act unjustified as Form 3CEA filed d...

October 16, 2023 1563 Views 0 comment Print

Latest Notifications

No Section 194IA TDS on payment by Air India limited to holding company for property

Income Tax : Central Government hereby specifies that no TDS shall be deducted under section 194-IA of Income Tax Act  on any payment made to ...

September 10, 2021 858 Views 0 comment Print

CBDT notifies Form no. 26QC for payment of TDS on rent u/s 194IB and Form No.16C for TDS Certificate

Income Tax : Every person responsible for deduction of tax under section 194-IB shall furnish the certificate of deduction of tax at source in ...

June 8, 2017 34320 Views 0 comment Print

CBDT notifies changes in Rules related to Refund of TDS

Income Tax : CBDT has vide notification No. 45/2017 notified that claim for refund of TDS paid can be furnished by the deductor in Form 26B ...

June 5, 2017 8133 Views 0 comment Print

Due date of filing statement for TDS on Sale of Property extended

Income Tax : Due date of filing statement for deduction of tax at source (TDS) on Sale of Property u/s 194-IA has been extended to 30 days from...

May 31, 2016 18211 Views 0 comment Print

Revision in TDS due date & Supporting for claim of Deduction from Salary

Income Tax : 26C. Furnishing of evidence of claims by employee for deduction of tax under section 192.- (1) The assessee shall furnish to the p...

April 29, 2016 64810 Views 0 comment Print

TDS- Section 194IA Payment on transfer of immovable property

July 25, 2023 375489 Views 42 comments Print

Understand the provisions of Section 194-IA of the Income Tax Act, where a buyer deducts 1% tax on property transfer exceeding Rs. 50 lakhs. Learn about applicability and procedures.

TDS Rate Chart for FY 2023-24 / AY 2024-25 – Updated

July 25, 2023 51942 Views 4 comments Print

Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.

Important provisions of Tax Deducted at Source

July 11, 2023 6336 Views 0 comment Print

Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections such as 192, 193, 194, and 195, which cover various payment scenarios where tax deduction is required. Learn about TDS rates, thresholds, and implications for different types of income.

ITAT Deletes TDS Demand as tax on relevant amount Already Paid 

June 19, 2023 1770 Views 1 comment Print

This case revolved around purchase of a property from twenty co-owners, where assessee was treated in default for non-deduction of TDS. Assessee argued that demand resulted in double taxation as taxes already been paid.

TDS Credit eligible in Assessment Year Corresponding to Income Assessment

June 14, 2023 1296 Views 0 comment Print

ITAT Chennai held that as per the provisions of Sec.199(3) of the Act r.w.r.37BA(1) of the Income Tax Rules, 1962, credit for TDS shall be given for assessment year for which such income is assessable.

TDS on Sale and Purchase of Immoveable Property by Non-Residents (NRIs)

June 4, 2023 27135 Views 2 comments Print

Section 194IA, introduced in the Union Budget 2013-14, mandates a Tax Deducted at Source (TDS) of 1% on all transactions involving immovable properties valued at Rs. 50 Lakhs or above. To facilitate this, the PAN card number and details of both the buyer and seller are required.

TDS on Payment on transfer of certain immovable property other than agricultural land

June 2, 2023 4713 Views 1 comment Print

Understand TDS implications under section 194IA of the Income Tax Act for the transfer of immovable property. Learn about the minimum limit, who should deduct TDS, and scenarios where TDS may not be applicable. Explore relevant case law to grasp the nuances of TDS on property transactions.

Penalty order passed in the name of death person after death is invalid

May 21, 2023 4743 Views 0 comment Print

ITAT Bangalore held that any proceedings taken against the deceased before his death shall be deemed to have been taken against the legal representative. However, penalty order passed in the name of death person after his death is invalid.

Denial of TDS credit to deductee because of non-payment by deductor is untenable

May 4, 2023 2871 Views 0 comment Print

ITAT Hyderabad held that revenue cannot deny the TDS credit to the deductee for non-payment of TDS by the deductor. Revenue has to proceed against the deductor by holding him as an assessee-in-default.

Summary of TDS on Property, Cash withdrawals and others

May 1, 2023 3603 Views 0 comment Print

Explore TDS essentials: Section 194IA for Property Sale, 194N for Cash Withdrawals, 194O for E-commerce, and 194IB for Rent. Get insights on rates, thresholds, and compliance.

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