Section no

Description

Cutoff

Rate of TDS

Examples

194 IA

Purchase of Immovable property

4999999

1%

On purchase of property more than 50 lacs, buyer has to deduct 1% and pay balance to party

 

Example

Suppose A sells property to B for Rs 100 lacs

B will pay him only 99 lacs and deposit remaining 1 lacs TDS to Government

 

Note:-

While other Sections are applicable only if we are doing business,

this section is applicable for all assessees

 

 

Exception

  • This section is not applicable in case of Non Resident Seller
  • This section is not applicable on Agricultural Land

Cut off 

  • No TDS to be deducted if Consideration is less than 50 lacs (Unlike Other Sections,On 50 Lacs,TDS is to be deducted)
  • So Actual cut off is 4999999

 

  1. Tax Practical
  2. Practical TDS (Non Salary)
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .