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Tds on property registration

Venkat (Others) (41 Points)

10 March 2017

Is the TDS on property purchase applicable for purchase of agriculture land? If so, does the more than 50 lakhs rule (property value) apply for agriculture land too?

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2 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 10 March 2017

" Is the TDS on property purchase applicable for purchase of agriculture land?"

No, TDS u/s. 194IA not applicable for RURAL agricultural land.

Amitav (Chartered Accountant) (5993 Points)
Replied 11 March 2017

Any sum paid by way of consideration for transfer of any immovable property (other than agricultural land) is covered under section 194-IA, provided the consideration for transfer of an immovable property is not less than Rs. 50 lakhs.