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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 3654 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 2589 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 4431 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 2367 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 38967 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 6022 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 285 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 852 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 34317 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/TCS Capital Gain Tax exemption on Transfer of capital assets/goods from Air India

September 11, 2021 1665 Views 0 comment Print

Understand the TDS/TCS exemption on the transfer of capital assets/goods from Air India. Learn about the specific income tax notifications under the Income Tax Act, 1961.

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

September 10, 2021 852 Views 0 comment Print

Central Government hereby specifies that no TDS shall be deducted under section 194-IA of Income Tax Act  on any payment made to the Air India Limited  for transfer of immovable property to Air India Assets Holding Limited under a plan approved by the Central Government. Notification No. 106/2021-Income Tax | Dated: 10th September, 2021 MINISTRY […]

Section 194IA TDS on Purchase of Immovable Property

July 6, 2021 367065 Views 9 comments Print

1) Preamble and Rational behind inserting Section 194-IA of Income Tax Act, 1961: Under section 195, on transfer of immovable property by a non-resident, tax is required to be deducted at source by the transferee. However, prior to 01-06-2013 there being no such requirement on transfer of immovable property by a resident except in the […]

Challan Cum Returns Under TDS

May 9, 2021 6819 Views 0 comment Print

Learn about CHALLAN Cum RETURNS under TDS provision: types, forms, and rates. Understand the process of deducting TDS on property transactions and payments to contractors and professionals.

TDS on Purchase of Properties | Section 194IA ,271C, 273B

April 16, 2021 10389 Views 2 comments Print

Learn about TDS on purchase of properties under Section 194IA of the Income Tax Act. Understand the implications of failing to deduct TDS and the provisions of Section 273B.

Tax on Purchase of Property-Some Points to Keep in Mind while Buying Property

March 9, 2021 140949 Views 15 comments Print

Buying property is dream come true for buyers. Every person wants to earn and purchase property which he or she can own in his or his family members and loved one name. Buyers invests his hard-earned money in buying property and many a times land up in difficult situation because everyone knows that tax is […]

No TDS on refundable Security Deposits given to Landowners

March 2, 2021 12216 Views 0 comment Print

Prestige Estates Projects Ltd Vs ACIT (ITAT Banglore)  Now the issue before us is with regard to whether the amount paid by the assessee towards interest free security deposit to various land owners whether it constitutes as “Consideration” in terms of Transfer of Immovable Property. In the present case, as per JDA cum General Power […]

NCLAT directs IT Dept to Refund TDS collected under Section 194IA

February 8, 2021 2601 Views 0 comment Print

Liquidator of a Company in liquidation under the Code is not required to file Income Tax Return, then there is no question of claiming refund of TDS deducted under Section 194 IA of the IT Act.

Section 194IA, 194IB & 194LA of Income Tax Act, 1961 In detail

December 1, 2020 92397 Views 1 comment Print

Understanding Section 194IA, 194IB & 194LA of the Income Tax Act, 1961. Learn about the provisions and deductions related to property transfers.

Detailed Analysis of TDS under Section 194-IA

November 25, 2020 14979 Views 1 comment Print

Section 194-IA is very familiar but tricky section to implement in real life. Though it is effected from year 2013, so many people are still unaware about many different things related to 194-IA and hence today I am writing this all inclusive article on Section 194-IA which will include everything from basic section, its compliance, […]

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