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TDS on property purchase above Rs 50 lakh explained: Rules, conditions and filing process
The Times of India
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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. ...
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