tds

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Buying Tanker Water – Take Care – Check for PH, Total alkinity, Total Hardness, Odour, Color and Microbial Parameter Such as E-Coli , Coliform etc.

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There is acute shortage of potable water in all the parts of Bangalore due to failed monsoon and continuous two […]

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REGISTRATION OF PROPERTIES AT A VALUE LESSER THAN THE ACTUAL SALE VALUE OF THE PROPERTY TO EVADE STAMP DUTY AND INCOME TAX

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A News Report of real estate transaction in Bangalore Mirror on 13-07-2016 Woman entered into a deal to sell her

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TAX DEDUCTED AT SOURCE ON THE IMMOVABLE PROPERTIES EXCEEDING RS50 LAKHS

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1% TDS IS LIABLE TO BE DEPOSITED FOR THE PROPERTIES VALUED ABOVE RS50 LAKHS, BEFORE THE REGISTRATION OR EXECUTION OF

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The ISSUES the buyer may face to implement this TDS provisions – The rate of 1% may increase to 20% if seller does not provide PAN due to overriding provision of section 206AA of ITA.

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Obtaining TAN number for complying with the provisions; Issuance of TDS certificate to the seller; Filing of TDS return quarterly

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TDS ON THE SALE OF IMMOVABLE PROPERTIES – DETAILS IN A NUTSHELL

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Tax Deduction at Source (TDS) on transfer of certain immovable properties (other than agricultural land) for value  Exceeding Rs.50 Lakh

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PROPERTY VALUE ABOVE RS50 LAKHS ATTRACTS 1% TDS !!!!

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TDS – Sale of all Immovable property above sale consideration value of Rs50 lakhs and above is now subject to

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