Since June 2013, the government has mandated that on sale of property exceeding Rs. 50 lakhs in India, a tax of 1% must be deducted on the total sale consideration before making the payment to the seller.
The buyer must then deposit this 1% TDS to the Government.
If you are a buyer who's received the notice about not deducting 1% TDS on sale of property, this article will guide you on responding to the notice.
Comments
0 comments
Please sign in to leave a comment.