I am a buyer, whether I should deduct TDS on Property from the amount exceeding the property value of 50 Lakhs or on the whole amount of property sold?
TDS on Immovable Property
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TDS on immovable property must be deducted on the total sale consideration paid to the seller, not only the excess. TDS on immovable property must be deducted by the buyer on the entire sale consideration paid or credited to the seller. The buyer's withholding ... Summary
TDS on immovable property must be deducted on the total sale consideration paid to the seller, not only the excess.
TDS on immovable property must be deducted by the buyer on the entire sale consideration paid or credited to the seller. The buyer's withholding obligation attaches to the total amount payable under the transaction, so thresholds referenced in examples do not limit the base for computing tax deducted at source.
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