Tds
This query is : Resolved
29 July 2013
Is TDS is applicable if income is received from House Property
29 July 2013
Income from House Property does not attract TDS but a new provision section 194IA has been inserted which required Tax Deduction at Source (TDS) to be deducted at 1% of the price being paid by the purchaser (on behalf of the seller) of an immovable property, irrespective of the quantum of capital gains of the seller. This is applicable only if the sale price of the property is equal to or more than Rs. 50 Lacs.
Section 194-IA is applicable from 1st June, 2013.
Section 194-IA is applicable from 1st June, 2013.
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