TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 194-IA: TDS on Property Transfers Now Based on Higher of Transaction or Stamp Duty Value.</h1> Section 194-IA of the Income Tax Act mandates a 1% tax deduction at source (TDS) on payments for transferring immovable property, excluding agricultural land, if the consideration is 50 lakh rupees or more. Previously, TDS was based solely on the transaction amount, ignoring the property's stamp duty value, creating inconsistencies with sections 43CA and 50C, which consider stamp duty value for income computation. To address this, the amendment effective from April 1, 2022, requires TDS to be deducted on the higher of the transaction amount or the stamp duty value, unless both are below 50 lakh rupees, in which case no TDS is required.
TaxTMI 
TaxTMI 