The Finance Minister in his Budget today re-introduction of TDS on Property @ 1% on all property transactions above Rs. 50 Lakhs. Refer: https://www.charteredclub.com/tds-on-property/
Although Chidambaram in his Budget speech said that this levy is being introduced to curb the generation of Black Money, some people say that this will actually promote black money transactions as the buyer will try to restrict the amt paid in cheque to below Rs. 50 Lakhs
What are your views on this ??? Will this act as a curb to Black Money transactions or promote Black Money deals ????
CAclubindia
