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Union Budget 2026-27 - Finance Bill, 2026
Section 393(1) [Table: Sl. No. 3(i)], provides for TDS on sale of immovable property. Note 3 of the said section provides that in such cases TDS is to be done where sale consideration or stamp duty value is equal to or greater than fifty lakh rupees. Note 3 has erroneously made a reference to [Table Sr. No. 3(iii)], (which is related to compulsory acquisition) instead of [Table Sr. No. 3(i)].
2. To correct the aforesaid referencing error, it is proposed to correct Note 3 of section 393(1) [Table: Sl. No. 3(i)] to convey correct intent of the Act.
3. It is proposed to amend Note 3 of section 393(1) [Table: Sl. No. 3(i)] of the Act.
4. This amendment will take effect from 1st April, 2026. [Clause 72]
Full Text:
TDS on sale of immovable property reference corrected to Table 3(i); amendment effective 1st April 2026. Note 3 to section 393(1) [Table: Sl. No. 3(i)]-which applies TDS on sale of immovable property where sale consideration or stamp duty value meets the prescribed threshold-erroneously referred to Table Sr. No. 3(iii). The Finance Bill, 2026 proposes to amend Note 3 to correct the reference to Table Sl. No. 3(i) so the TDS provision operates as intended; the amendment takes effect from 1st April, 2026 (Clause 72). of Press 'Enter' after typing page number.
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