Section 194IA in The Income Tax Act, 1961
194IA. Payment on transfer of certain immovable property other than agricultural land.
(1) Any person, being ... transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer
that the
provisions of section 2(47) defining the term 'transfer' does not
apply in context of section 194IA.
3.60 The term ... being an
agricultural land]. The provisions of section 2(47) cannot be
imported in section 194IA in the absence of a specific mandate
there cannot be any levy of fee under section 234E
of the Act. He submitted, section 194IA of the Act applies to transfer
of immovable ... time prescribed in sub-section (3) of
section 200 of the Act. Whereas, sub-section (3) of section 200 of the
Act makes it clear
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 ... aforesaid decision, on harmonious reading of both
sub-section (1) and sub-section (2) of section 194IA , the provisions
provides that any person responsible
case other than that referred to in section 392(2)(a), where under an agreement or an arrangement, if the tax chargeable on any income ... Section 194B , Section 194BA, Section 194BB , Section 194C , Section 194D , Section 194DA, Section 194E , Section 194EE , Section 194G , Section 194H , Section 194I , Section 194IA , Section
person placed in relation to the assessee under the provisions contained in section 36(3), but does not include— (A) manufacturing or supplying a product ... Section 194BA, Section 194BB , Section 194C , Section 194D , Section 194DA, Section 194E , Section 194EE , Section 194F , Section 194G , Section 194H , Section 194I , Section 194IA , Section
fails to collect the tax as per the provisions of section 394, shall, irrespective of such failure, be liable ... clause (a). [ Similar to Section 203A , Section 206AA , Section 206CC , Section 200 , Section 206A , Section 206C , Section 194IA , Section 194IB , Section 194M , Section 194S
agricultural in nature in accordance with
section 2(14)(iii) of the Act. Therefore, the provisions of section 194IA of the
Act were clearly applicable ... made by way of insertion of a proviso to sub-section (2) of section
194IA of the Act, by the Finance Act, 2024 with effect
assessee in default"
under section 201(1) for non-deduction of TDS under section 194IA of the Act,
without appreciating the correct legal position ... made by way of insertion of a proviso to sub-section (2) of section
194IA of the Act, by the Finance Act, 2024 with effect
which no TDS was made under the provisions of Section
194IA of the Act. Further, the assessee had also purchased another
property being land ... initiated
proceedings under Section 201(1) / 201(1A) of the Act for failure to pay tax
at source (TDS) under Section 194IA and 194J
