Joint Owners Get Exemption u/s 194-IA Upto Rs 50 Lakhs Each-3 Separate ITAT Confirms It


TDS us 194-IAAs you already know , if you are selling immovable property , the buyer needs to deduct tax at source and deposit the same under section 194-IA of the Income Tax Act. Please watch this explanatory video on section 194-IA. I had also published an article in 2014 TDS on Purchase of Property :Five Controversial Issue Simplified . One of the issue was whether the limit of Rs 50 Lakhs is allowed on each co-owner  or 50Lakhs limit is per property. I had the view that the 50Lakhs limit is per co-owner .

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