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What is TDS Implications on Development Agreements about?

Sections 194IC and 194IA of the Income Tax Act require tax to be deducted at source on certain types of development agreements. [Section 194IC applies to] specified agreements where a developer is given land or property to build a real estate project in exchange for a share of the developed land or property, with or without additional cash payment. [Section 194IA applies to] transfers of immovable property other than agricultural land where the consideration exceeds Rs. 50 lakh. The sections aim to ensure T

Author

parasshah.klj

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EN