Income Tax : The shift replaces multiple filings with a single consolidated form for buyers. The key takeaway is that compliance is now simpler...
Income Tax : Section 194-IA mandates 1% TDS on immovable property purchases from resident sellers if consideration or stamp duty value is ₹50...
Income Tax : Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendmen...
Income Tax : Learn how to remove excess 20% TDS demand on property sales under Section 194-IA due to PAN-Aadhaar linking issues, using CBDT Cir...
Income Tax : As per section 194IA of income tax Act, if immovable property, other than agricultural land, is transferred tax (TDS) will be dedu...
Income Tax : From October 2024, TDS under section 194-IA will apply based on total consideration for property sales, not individual payments. U...
Income Tax : It has been observed that deductors are wrongly entering the tax amount deducted on sale of property in 'interest' or 'others' or ...
Income Tax : The Tribunal held that deducting TDS only on part of the purchase price of immovable property was contrary to Section 194IA. TDS w...
Income Tax : The Tribunal upheld TDS liability where tax was deducted only on part of the property value. It ruled that TDS must be applied on ...
Income Tax : ITAT ruled that the amendment requiring aggregation of consideration under Section 194-IA applies only from October 2024. For earl...
Income Tax : The Tribunal held reopening valid as tangible material showed undisclosed capital gains. It ruled that execution of a registered s...
Income Tax : The Tribunal ruled that Section 148A(b) requires a minimum of seven days for the assessee to respond. Failure to grant this statut...
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 ...
Income Tax : Every person responsible for deduction of tax under section 194-IB shall furnish the certificate of deduction of tax at source in ...
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 ...
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...
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...
The ruling found no liability to deduct TDS because individual payments to transferors were below the statutory threshold. Consequently, the fee and interest imposed under Section 234E were set aside.
The ITAT Chandigarh ruled that a co-purchaser of property is not liable to deduct TDS under Section 194-IA if their individual share is below ₹50 lakh, even if total consideration exceeds the limit. The Tribunal quashed both AO and CIT(A) orders.
Section 194-IA mandates 1% TDS on immovable property purchases from resident sellers if consideration or stamp duty value is ₹50 lakhs or more. Buyer uses PAN (no TAN required); TDS deposited via Form 26QB. Non-compliance results in interest and penalties.
Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendment includes incidental charges and considers the total value in joint ownership for TDS applicability.
The Income Tax Appellate Tribunal (ITAT) overturned a Principal Commissioner of Income Tax (PCIT) order under Section 263. The Tribunal held that the PCIT cannot invoke revisionary powers simply because they desire a deeper investigation, establishing that inadequate enquiry is not equivalent to no enquiry by the Assessing Officer (AO).
ITAT Pune held that sum has been received for work relating to interior and other finishing work and total consideration is received through banking channel. Hence, there is no violation of section 269SS of the Income Tax Act. Hence, penalty u/s. 271D not leviable. Accordingly, appeal of revenue dismissed.
Learn how to remove excess 20% TDS demand on property sales under Section 194-IA due to PAN-Aadhaar linking issues, using CBDT Circular No. 9/2025.
Assessee also moved an application for admission of additional evidence (sale deed, tripartite agreement, purchase document) under Rule 29 of the Income Tax Appellate Tribunal Rules, 1963.
ITAT Ahmedabad partially allows an appeal by Bhikhabhai Hirabhai Patel, reducing late filing fees after ruling that TDS is not applicable to property transfers under Rs. 50 lakhs per transferee.
The ITAT Ahmedabad ruled that the TDS threshold under Section 194IA applies to the payment made to each individual seller, not the total transaction value.
