Circular No. 3/2022 — TDS on sale of immovable property u/s 194-IA
Date: 2022-01-01 Status: ACTIVE Category: TDS / TCS Binding on Department: Yes (Section 119 / Section 400 IT Act 2025)
Summary
Guidelines for TDS on transfer of immovable property under section 194-IA. Covers threshold, rate, and Form 26QB compliance.
Key Directions
- TDS at 1% on sale consideration exceeding Rs. 50 lakhs.
- Buyer to deduct TDS and deposit using Form 26QB within 30 days.
- Applies to both land and building (including residential flats).
Applicability Under IT Act 2025
Saving Clause: Section 536 of IT Act 2025 saves circulars issued under the 1961 Act “so far as not inconsistent” with the new Act.
| Old Section (1961 Act) | New Section (2025 Act) | Consistent? |
|---|---|---|
| 194-IA | 393 | Yes |
Cross-References
Act Sections
Related Circulars
- None identified
Key Case Law (Circular Supremacy)
- To be populated — cases where this circular was cited/applied
Full Text
Full text to be added — see raw/circulars/ for PDF when available
Source
- Official: incometaxindia.gov.in/circulars