TDS rate on property purchase

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article assistant
284 Points Posted on 03 May 2021
TDS on purchase of property was @ 1% upto may 13, 2020 and thereafter 0.75% upto March 31, 2021.
so my query is which rate would apply while paying tds - rate prevailing on agreement date or payment date ?
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On 03 May 2021 at 15:11 Report
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Quick Summary
This discussion clarifies the applicable TDS rate for property purchases made between May 13, 2020, and March 31, 2021. The key question is whether the TDS rate of 1% or the reduced 0.75% applies. Participants clarify that the rate prevailing on the date of payment is generally the one to be applied.

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Chartered Accountant
24588 Points Posted on 03 May 2021
Prevailing on payment date
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On 03 May 2021 at 15:50
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Tax consultant
5895 Points Posted on 03 May 2021
Cut tds @ .75%
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On 03 May 2021 at 16:08
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Practice
1361 Points Posted on 03 May 2021
Rate prevaling on agreement date or purchase date whichever is earlier.
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On 03 May 2021 at 16:38

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