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Whether tds is applicable on sale of asset

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03 October 2013 Whether TDS is applicable on Sale of Asset
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
03 October 2013 TDS ON IMMOVABLE PROPERTY U/S 194IA

The finance minister has said that 1% tax will be deducted at source (TDS) on immovable property.

The cut-off value for such a transfer of property is above Rs.50 lakh. So if you have a house or a plot of land, which is valued above Rs.50 lakh at the time of sale, then you will have to pay a TDS of 1% while selling it.

Agricultural land is exempt from this.
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