Please Help: TDS applicable on gift transaction under section 194IA
Posted Date : 17-Jul-2013 , 04:52:05 pm | Posted By TAUSIF
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
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 260
Answers
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
so in your case consideration is nothing so sec 94IA will not attract
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