WebHello Everyone, My article on "TDS on Immovable Property Purchase – Return Filing & … WebJul 3, 2024 · As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,...
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WebJul 14, 2024 · Towards purchasing immovable property: ₹ 160 lakhs. Towards electricity … WebProvide your PAN to the Purchaser for furnishing information regarding TDS to the Income … men\u0027s fashion haircuts 2018
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WebThe buyer has to obtain the PAN of the seller for the payment of TDS on immovable property. If you do not have the seller’s PAN, a TDS of 20% of the total sale value will have to be paid. The TDS is either deducted at the time of payment, including payments done in instalments, or at the time of giving credit to the seller, whichever is earlier. WebThe rate of TDS depends on the nature of capital gain arising to the non-resident which are as follows: – Long Term Capital Gain –If the property is held for a period of 2 years or more then the gain arising to the non-resident is long-term in nature and taxable @ 20% (plus surcharge and cess). WebJan 16, 2024 · The buyer must deduct TDS at the rate of 1% if the sale consideration is 50 lakhs or more, but starting on April 1, 2024, TDS must also be deducted if the property’s stamp duty value is 50 lakhs or more. This indicates that TDS must be withheld if the property’s stamp duty value or the sale price exceeds ₹50,000. how much to buy and install solar panels