TDS ON PROPERTY TRANSACTION FROM 01-06-2013


TAX DEDUCTED AT SOURCE (TDS) ON THE PROPERTY TRANSACTIONS ABOVE THE VALUE OF RS50 LAKHS IS EFFECTIVE FROM 01-06-2013, A NOTIFICATION TO THIS EFFECT IS PLACED BY THE INCOME TAX DEPARTMENT.  THIS NOTIFICATION IS NOT APPLICABLE TO AGRICULTURAL LANDS.

ONLINE TDS PAYMENT IS AVAILABLE AND THOSE, WHO CANNOT ACCESS IT, CAN MAKE/DEPOSIT THE TAX IN THE AUTHORISED BANKS.

THE VALUE OF THE PROPERTY IS CONSIDERED ON THE GUIDELINE VALUE PUBLISHED BY THE DEPARTMENT OF STAMPS AND REGISTRATION OR THE CONSIDERATION AMOUNT, WHICHEVER IS HIGHER.