TDS u/s 194IA - payment for purchase of property - the assessee ...
Section 194IA: No TDS Needed on Property Purchase Below Rs. 50 Lakhs; Assessee Not in Default for Rs. 40 Lakh Deal.
December 10, 2022
Case Laws Income Tax AT
TDS u/s 194IA - payment for purchase of property - the assessee in the instant case has admittedly paid Rs. 40 lakhs which is below threshold limit provided to trigger the obligation provided in Section 194IA - Hence, Section 194IA has no application where a transferee in question has neither credited nor paid consideration for transfer of immovable proper ty in excess of threshold limit of Rs. 50 lakhs. - assessee not an assessee in default - AT
View Source