-Name withheld on request
Under India's income tax laws, any individual buying an immovable property (excluding agricultural land) from a resident seller must deduct TDS at 1% of the total consideration if the purchase price or stamp duty value is ₹50 lakh or more. The TDS is calculated on the higher of two values, not just the amount exceeding ₹50 lakh. This applies equally to both resident and non-resident buyers.
This story is from the December 31, 2024 edition of Mint Hyderabad.
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This story is from the December 31, 2024 edition of Mint Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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