Please Help: TDS applicable on gift transaction under section 194IA
Posted Date : 17-Jul-2013 , 04:52:05 pm | Posted By: TAUSIF
Category :
Income Tax | Answers :
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I have received gift i.e. land Value of Rs.60.00 lakh. Whether TDS applicable on this transaction@ 1%for the F.Y. 2013-2014 |
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Answers:
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 Answer by: SUBHASH KUMAR JHA |
| Under sec 94IA TDS Is attracted @ 1@ on sale vaue of immovable property if consideration exceed Rs.50,00,000
so in your case consideration is nothing so sec 94IA will not attract
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