In order to check the rampant use of black money in immovable property transactions, the government of India has introduced a law, wherein, the purchaser of a property has to deduct tax at source, R ...
Tax Deducted at Source (TDS) under the Income Tax Act has undergone wide-ranging changes in the last decade. One of them was the introduction of rule - TDS on the sale of properties under Section ...
Delhi HC quashed the penalty and directed TDS credit correction for NRI due to a buyer's form error in a 2015 property sale case. (Bloomberg) A Non-Resident Indian ...
Archit Gupta, CEO and founder, ClearTax, said, "If you purchase a property of more than Rs 50 lakh value, you need to deduct TDS at 1% from the payment you have made. The purchaser has to deposit this ...
To curb evasion of tax on property sales, the income tax department has made it mandatory for buyers of property to deduct TDS from payments made to the seller. TDS is applicable where total sales ...
14don MSNOpinion
Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul
In immovable property sale cases, NRIs may face both TDS and TCS depending on how the sale proceeds are handled.
Houses and other immovable assets worth over Rs 50 lakh in Mumbai metropolitan region will attract the new tax regime introduced for realty transactions from Jun 1 Property buyers have to shell out ...
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.' Illustration: ...
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