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of <h1>Section 194-IA Update: TDS Now Includes Payments for Amenities in Property Transfers, Effective September 1, 2019.</h1> Section 194-IA of the Act mandates a 1% TDS on the consideration paid for the transfer of certain immovable properties, excluding agricultural land. Previously undefined, 'consideration for immovable property' will now include payments for amenities like club membership, car parking, electricity, water, maintenance, and advance fees. These payments, often required by the buyer under the purchase agreement, will be considered part of the property transfer cost. This amendment, effective from September 1, 2019, clarifies that such charges are integral to the property transaction.
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