As per section 194ia “any person, being a transferee…” is liable to deduct tax at source. Section 194ia of the income tax act, 1961, is a crucial provision mandating tax deducted at source (tds) on the sale of certain immovable properties. Section 194ia of the income tax act imposes an obligation on buyers of immovable property to deduct tax deducted at source (tds) at 1% when the sale.
What is Melania Trump’s IQ? And how did she get the Einstein visa?
When any loan availed from bank, the bank can’t be said to be transferee even if it is. Section 194ia of the income tax act, 1961 applies when a resident sells immovable property (land/building, excluding agricultural land) for ₹50 lakh or more.
