When purchasing a property, understanding your tax obligations is as important as choosing the right location or builder. One key obligation under Indian tax law is the deduction of Tax Deducted at Source (TDS). Under Section 194-IA of the Income Tax Act, 1961, buyers of immovable property (excluding agricultural land) are required to deduct TDS […]
TDS IN JOINT PROPERTY PURCHASE:
Purchasing property in India is a major financial decision, and when multiple buyers or sellers are involved, the complexity increases—especially when it comes to Tax Deducted at Source (TDS). Under Section 194-IA of the Income Tax Act, 1961, buyers are required to deduct TDS on the sale of immovable property (other than agricultural land) if […]
TDS Implications When Buying Property from an NRI Seller
(Understanding Section 195, Higher TDS Rates, TAN Requirements & Compliance Steps) Buying property in India is a significant financial decision, and when the seller is a Non-Resident Indian (NRI), the transaction becomes even more complex from a tax compliance perspective. One of the most crucial aspects in such a scenario is Tax Deducted at Source […]
TDS on Property Purchase: Avoid Them Common Mistakes
To The Editor, Real Estate Times, [Your City] Subject: TDS on Property Purchase: Common Mistakes and How to Avoid Them Dear Sir/Madam, I am writing this letter to draw attention to a crucial yet frequently misunderstood aspect of real estate transactions — TDS (Tax Deducted at Source) on property purchases under Section 194-IA of the […]
PROCESS TO PAY TDS BY USING FORM “26QB”
Subject: A Complete Walkthrough for Paying TDS on Property Purchase Using Form 26QB and Downloading Form 16B Dear Buyer, Purchasing a property is a significant milestone and a financially important transaction. One of the legal responsibilities you bear as a property buyer in India is to deduct and deposit Tax Deducted at Source (TDS) under […]