Paying TDS (Tax Deducted at Source) is essential when buying a property worth Rs 50 lakh or more in India. This is required by Section 194-IA of the Income Tax Act. According to this law, buyers must deduct 1% TDS from the sale price. They must then deposit this amount with the government. This article will explain how to pay 1 TDS on property purchase online. It will include steps for joint buyers and...
Buying real estate requires a significant financial investment and understanding of tax rules. One important rule is tax deducted at the source, known as TDS. According to section 194-IA of the Income Tax Act 1961, if you buy property for Rs 50 lakh or more, you must deduct TDS. This rule does not apply to farms or agricultural land. You need to take out the TDS before you pay the seller. This guide...
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