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of <h1>Amendment to Section 194-IA: TDS on Property Sales Based on Total Consideration, Effective October 2024.</h1> The Union Budget 2024-25 introduces amendments to Section 194-IA concerning tax deduction at source (TDS) on the sale of immovable property. The amendment clarifies that the consideration for TDS should be the total amount paid by all transferees to all transferors, not individual payments, addressing misuse where buyers avoid TDS by paying less than Rs. 50 lakh individually, despite the property's total value exceeding this threshold. The amendment aims to prevent tax avoidance and will be effective from October 1, 2024.
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