1% tds budget 2013

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52 Points Posted on 02 March 2013

 

I am planning to sell a residential real estate(house) in 2013 more than 50 lakhs value in India. In order to avoid the new Budget law: TDS 1% tax on the Transaction value (Sale Price) how many many months I have in my hand. What is the last date in the Year 2013 before I need to sell my house to avoid the new 1% TDS ? Please explain experts. 
Who pays the 1% TDS ? (buyer or seller)
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On 02 March 2013 at 11:11 Report
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This provision will be applicable in respect of transactions effected on or after 01.06.2013 and TDS shall be deducted by the buyer who will pay money..

 

Source: https://www.indiantaxupdates.com/2013/02/28/tds-1-on-transfer-of-immovable-property-exceeding-rs-50-lakhs/

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On 02 March 2013 at 12:14
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student
52 Points Posted on 02 March 2013

Hello Sir, Thanks for answering my question. I agree May 31st is the last date for real estate transaction sale in-order to avoid 1% TDS.

I just want to confirm March 31st 2013 is not the last date ? (April 1 is the Start of the India Govt Financial Year)

Is there any Official source/Govt website that tells all the budget announcements or this particular 1% TDS law will be implementated after May 31st 2013 ?
I have read the following link.
https://www.indiantaxupdates.com/2013/02/28/tds-1-on-transfer-of-immovable-property-exceeding-rs-50-lakhs/
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On 02 March 2013 at 22:48

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