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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

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        Bills

        Section 194LA - Payment of compensation on acquisition of certain immovable property.

        1 February, 2025

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        Union Budget 2025-26 (Full) + Finance Bill, 2025

        Section 194LA - Payment of compensation on acquisition of certain immovable property.

        Section 194LA of the Act requires that any person responsible for paying to a resident any sum, being in the nature of compensation or the enhanced compensation or the consideration or the enhanced consideration on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultural land), shall, deduct an amount equal to ten per cent of such sum as income-tax thereon, provided that such amount exceeds Rs. 2,50,000/- in a financial year.

        2. It is proposed to increase the threshold amount for requirement of deduction of tax at source under section from Rs. 2,50,000/- to Rs. 5,00,000/-.

        3. This amendment will take effect from the 1st day of April 2025.

        [Clause 62]

         

        Full Text:

        Union Budget 2025-26 (Full) + Finance Bill, 2025

        TDS on compensation for compulsory acquisition: deduction threshold raised while the deduction rate is retained, effective next fiscal April. Section 194LA requires tax deduction at source on compensation or enhanced compensation and consideration for compulsory acquisition of immovable property (other than agricultural land) where amounts in a financial year exceed the prescribed threshold. The Finance Bill, 2025 proposes to raise that threshold while retaining the existing deduction rate and mechanism; the amendment is to take effect from 1 April 2025.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              TDS on compensation for compulsory acquisition: deduction threshold raised while the deduction rate is retained, effective next fiscal April.

                              Section 194LA requires tax deduction at source on compensation or enhanced compensation and consideration for compulsory acquisition of immovable property (other than agricultural land) where amounts in a financial year exceed the prescribed threshold. The Finance Bill, 2025 proposes to raise that threshold while retaining the existing deduction rate and mechanism; the amendment is to take effect from 1 April 2025.


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