TDS on Property Purchase – Everything You Need to Know
Understanding TDS on property purchase is essential for every homebuyer in India. This comprehensive blog guide explains all the key aspects of TDS on property purchase, including the legal obligations under Section 194-IA of the Income Tax Act. As per the rule, any buyer purchasing an immovable property worth ₹50 lakh or more is required to deduct TDS at 1% from the total sale consideration and deposit it with the Income Tax Department.