Under the above provisions, it is interpreted that the planned agreement involves a common development agreement or development agreement whereby one party sells the development rights to another party for monetary or in-kind consideration, or both. 8. For section 194IC, there is no separate TDS return. The subtracted SDS must be deposited in the seller`s NAP before the 7th day of the following month, during which an agreement or amount paid is executed, based on the previous date, and the return of the TDS must be deposited at the end of the quarter on the due date of TDS returns. Based on a clear reading of the above provisions, it is interpreted that the contractual value of a property other than farmland is Rs 50.00,000 or more. To continue decoding, please consider the following indications for the decisive application of Section 194IA: TDS u/s 194C – Rental fees paid to third-party vehicle owners – No tds deduction – Addition made u/s.40[i][i]- According to the evaluation, there is no agreement or contract between the evaluator and… No TDS u/s 194C deduction obligation for the allocation of revenue to franchisees under the franchisee contract: Delhi HC Section 45 (5A) -Notwithstanding the provisions of the subsection (1), where the capital gain is returned to an appraiser, As an individual or undivided Hindu family, the transfer of an asset, by country or by building or both as part of a given agreement, the capital gain from income tax is attributable to the income tax of the previous year in which the certificate of completion is issued by the competent authority for all or part of the project; for the purposes of Section 48, the value of the stamp tax which, on the date of the issuance of the certificate, represents the amount of its share, is a property or a building or both in the project, plus the consideration eventually received, as the full value of the consideration it receives or is involved as a result of the transfer of the asset: 2. The object of the contract should be “locked in”. This section does not apply to rental fees; Transferable development rights (TDRs), etc., as they are mobile in nature. 2. In simple terms, according to section 194IA, if the value of the contract is equal to or greater than Rs.
50, 00,000/- the buyer of the property has the TDS 1% to deduct the value of the contract and It should be deposited in the seller`s PAN. 3. The TDS must be deducted for each payment/monthly payment paid before the agreement and the property. Indeed, the agreement is the document on which the total amount is credited to the seller`s account. 3. Section 194IC refers to the specified agreements for which the SDS is to be deducted, 10% 6. The Joint Development Agreement (JDA) can be achieved with different models such as territorial distribution, income sharing or the combination of the two, but if the monetary consideration is involved in the agreements/deals, then Section 194IC will certainly be attracted. Section-194IC- Notwithstanding the provisions of Section 194-IA, each person: who is responsible for paying consideration to a resident, without paying benefits in kind in accordance with the agreement provided in Section 45 (section 5A), deducted ten per cent of the amount at the time of the recipient`s credit or at the time of payment in cash or by issuing a cheque or project or other mode, depending on the previous date. IN Joint Development Agreement Revenue Sharing Model . 50% of the buyer`s collection is divided between the developer and the landowner.