Categories: Top Stories

TDS on property purchase above Rs 50 lakh explained: Rules, conditions and filing process

Property buyers purchasing assets valued at Rs 50 lakh or more must deduct 1% TDS before completing the transaction. This rule, under Section 194-IA, applies to non-agricultural land and aims to boost tax compliance in real estate. Buyers must deposit the tax and issue a certificate to the seller, ensuring accurate reporting of high-value deals.

The News Vista

Share
Published by
The News Vista

Recent Posts

BJP government made Haryana number one in drugs, corruption, crime: Hooda

In a passionate speech at the Congress Block Workers' Conference in Tauru, Bhupinder Singh Hooda…

55 minutes ago

India’s diversity, traditional knowledge can help build better world: RSS chief Mohan Bhagwat

RSS chief Mohan Bhagwat highlighted Bharat's identity rooted in its languages, faiths, and cultures during…

1 hour ago

AI and the monk: Anthropic goes for swami and friends to tame Claude

Anthropic engaged various religious scholars and philosophers to explore ethical frameworks for advanced AI development.…

1 hour ago

Father got 3 bigha in 1972; HC protects married daughter’s land claim after parents death

In 1972, the Himachal Pradesh government allotted three bigha and two biswas of agricultural land…

2 hours ago

Pargat Singh replaces Warring as Punjab Congress chief: Who he is and why Congress chose him

Pargat Singh has been chosen as the new president of the Punjab Pradesh Congress Committee.…

2 hours ago

Mississippi ‘Taj Mahal’ waterfront home returns to market for $2.5 million

A $2.5 million unfinished mansion inspired by the Taj Mahal is now available in Ocean…

2 hours ago