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Is tds applicable on property purchased in respect of bank auction

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Venkateshwarlu Pulluri

Venkateshwarlu Pulluri (Querist)
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13 October 2022 one of my client going to participate in auction to be held by bank which is more than 50 lakhs value, is it applicable to tds, if tds applicable banker to obey the same

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 October 2022 Yes, applicable unless it is agricultural land or NO TDS deduction certificate issued by ITO.

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Venkateshwarlu Pulluri

Venkateshwarlu Pulluri (Querist)
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14 October 2022 Thank you very much sir,

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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14 October 2022 You are welcome..

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