<h1>Finance Bill 2013-14 Introduces 1% TDS on Property Transfers Over Rs. 50 Lakh, Exempting Agricultural Land.</h1> The Finance Bill 2013-14 proposes a 1% Tax Deducted at Source (TDS) on the transfer of immovable property valued over Rs. 50 lakh, with an exemption for agricultural land. This measure, announced by the Finance Minister during the Union Budget presentation, aims to address the common issues of undervaluation and under-reporting in property transactions, where many lack the Permanent Account Number (PAN) of involved parties. The initiative seeks to enhance transaction reporting and ensure proper taxation of capital gains.