Tds on sale of immovable property

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Rahul singh (Querist)
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21 October 2015 Dear all if I purchase a house then how it affect TDS on immovable property . tds rate for immovable property. form for TDS return . and payment section under which TDS should be paid please do share its urgent

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 October 2015 Please see section 194IA of the Income tax act,1961.

In nut shell, TDS applies if consideration = OR > 50 lakhs.

1% is the tax rate.

e-form 26QB is the challan cum return form.

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