Hi,
Sold agriculture land for Rs. 90 Lakhs
TDS will be deducted by the Purchaser?
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TDS Applicability: Sale of Agriculture Land
Replies (5)
Rural or agricultural.
1 % amount exceeding Rs.50 Lakhs u/s 194IA .
So 90000 must deducted by the buyer in Form 26QB.
But,It's as agricultural land as per IT provisions -No tax impact,Means no Long Term /Short Term Capital Gain ,Therefore no need to deduct TDS.
So 90000 must deducted by the buyer in Form 26QB.
But,It's as agricultural land as per IT provisions -No tax impact,Means no Long Term /Short Term Capital Gain ,Therefore no need to deduct TDS.
Agricultural Land in urban area
If it's agricultural land, no need to deduct tax
Please confirm, Then no TDS /Income Tax Applicable.
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