TDS on Purchase of Property I TDS on Property Sale I Section 194IA I CA Satbir Singh Who will pay TDS on sale of property? How is TDS calculated on property purchase? Is TDS on property refundable? What is the due date for payment of TDS on property? What happens if TDS is not deducted… Read More »
TDS on Property Sale : Section 194IA Income Tax TDS on Property Sale in India is deducted as per Section 194IA Income Tax . (Article written by CA Satbir Singh .contact on Taxheal@gmail.com ) Deduction of tax at source from payment on transfer of certain immovable property Relevant provision regarding TDS on Property sale is… Read More »
What are the points to be remembered by the purchaser/buyer of the Property? As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property is equal or exceeds to 50,00,000 (Rupees Fifty Lakh). Sec 194 IA of the Income Tax Act, 1961 states that for… Read More »
What are the points to be remembered by the Seller of the Property? As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property is equal or exceeds to 50,00,000 (Rupees Fifty Lakh). Sec 194 IA of the Income Tax Act, 1961 states that for… Read More »
CBDT aligns Due date for filing of TDS return with due date of deposit of TDS under Sec. 194-IA.(deduction of TDS on Payment on transfer of certain immovable property other than agricultural land of Rs 50 Lakh or more) Also read TDS on Property , Govt revised timeline to Deposit As per the Following amendment in Rule… Read More »
Govt revised timeline to Deposit TDS on Property Section 194IA requires buyer of the Property to deduct 1% TDS while making payment to seller if consideration of the Property exceeds 50 Lakh Rupees. Such TDS was required to be paid within 7 days from the end of the month in which payment been made but… Read More »
FAQ on TDS on Purchase of Property If I buy any land/building then is there any requirement to deduct tax from the sale proceeds to be paid by me to the seller? Yes, Finance Act, 2013 has introduced section 194-IA which provides for deduction of tax at source in case of payment of sale… Read More »