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Tds Applicability On Revenue Sharing Agreement

Section-194IC- Notwithstanding the provisions of section 194-IA, any person responsible for the payment to a resident of an amount in consideration that is not a benefit in kind, in accordance with the agreement referred to in section 45, subsection 5A, has, at the time of credit, that amount in the account of the beneficiary or at the time of payment in cash or by the issuance of a cheque, in a change or other way, Depending on the previous date, you disconnect an amount equal to 10% of the sum of income tax. 3. Section 194IC refers to the specified agreements in which TDS is to be deducted @ 10% Based on the simple reading of the above provisions, it is interpreted that the contractual value of a property other than agricultural land is equal to or greater than RS. 50, 00.000 / – then the buyer of the property must deduct the TDS @ 1% of the contract value while making payments to the seller of this contract value. For subsequent decoding, please take into account the following indications for the decisive application of Article 194IA: 2. The object of the agreement should be “immobile property”. This Section does not apply to rental rights; Transferable development rights (TDRs), etc., because they are mobile. IN the joint development agreement Turnover participation model. 50% of the buyers` collection is distributable between developers and landowners.

in this case, 194IC is applicable or not. whether or not the manufacturer makes the payment after deduction of TDS U/S 194IC. 3. Whatever you are marked by a particular agreement such as a joint development agreement, development agreement or other name, but if one party sells the development rights to another party instead of the financial counterparty with or without the consideration in kind, TDS @ 10% should be deducted from the financial consideration u/s 194IC…


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