TDS stands for tax deducted at source when buying a property. It's a common misconception that only purchasers must pay taxes when they buy a home, but sellers are also responsible for some tax obligations. The seller of the property is responsible for paying TDS and capital gains.
Avail NoBroker’s Legal Services for the verification of property documentsIndia's property buyers are required to pay TDS to the government. In accordance with Section 194 IA of the Income Tax Act, the transferee (buyer) who gives the transferor (seller) money in consideration for the transfer of an immovable property (apart from agricultural land) must deduct 1% TDS from the sum that was paid.
However, to know how to deposit TDS on the purchase of property, you can go through the below-mentioned response;
How to Deposit TDS on Purchase of Property?I hope this helps:)
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TDS on property buying
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2023-01-09T21:28:36+00:00 2023-01-12T00:18:18+00:00Comment
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