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Section 194IA in The Income Tax Act, 1961 194IA. Payment on transfer of certain immovable property other than agricultural land. (1) Any person, being

characterized as consideration for transfer of immovable property attracting provisions of section 194IA . 3.4 Another notice was issued by the A.O. on 07.11.2013 asking ... respect of default of not deducting tax under section 194IA from refundable security deposit paid to the land owners. The assessee replied to the said

while making such payment the assessee simultaneously deducted tax @ 1% under section 194IA of the Income Tax Act, 1961 (for short ... statement. Without prejudice, it was submitted that the provision of section 194IA of the Act is not 7 Cornerview Construction & Developers Pvt. Ltd applicable

under: "1. The deduction of TDS at 1% u/s. 194IA(1) is not applicable in respect of transfer of immovable property of less ... than Rs. 50 Lakhs by any person being transferee. Section 194IA(2) is applicable only w.r.t. the amount related to each transferee

less than Rs. 50 lacs, therefore, in terms of provisions of Section 194IA of the Act, there was no requirement to deduct tax at source ... Bhilwara. It was accordingly submitted that the provisions of Section 194IA of the Act are not applicable in the case and the assessee cannot

194DA, Section 194E , Section 194EE , Section 194G , Section 194H , Section 194I , Section 194IA , Section 194IB , Section 194IC , Section 194J , Section 194K , Section 194LA , Section 194LB

194E , Section 194EE , Section 194F , Section 194G , Section 194H , Section 194I , Section 194IA , Section 194IB , Section 194IC , Section 194J , Section 194K , Section 194L , Section 194LA

203A , Section 206AA , Section 206CC , Section 200 , Section 206A , Section 206C , Section 194IA , Section 194IB , Section 194M , Section 194S and Section 195 from The Income

property exceeds Rs.50 lakhs, then the provisions of Section 194IA will be applicable. In such case, TDS was required to be deducted and deposited ... less than the prescribed limit of Rs. 50 lakhs under section 194IA of the Act. 9.1.2 Legislative Framework: Section 194-IA , inserted by Finance

failure to deduct tax at source under section 194IA . The assessee, in reply dated 01.01.2019, submitted that both lands were agricultural lands and not subject ... under section 194IA . It was also contended that the consideration paid to each individual seller was less than Rs. 50 lakhs. The AO obtained confirmations