TDS on Sale of Property in Tamil

TDS on Sale of Property in Tamil @Tax Related All TDS on Sale (TDS on சொத்து விற்பனை)

Any person purchasing immovable property (other than rural agricultural land) of Rs. 50 lac or more is required to deduct tax @1% from the payment made to seller. This new rule was introduced by Finance Act, 2013.
The buyer has to deduct TDS at 1% of the total sale consideration. Note that the buyer is required to deduct TDS, not the seller. No TDS is required to be deducted if sale consideration is less than Rs 50 lakes. If the payment is made by installments, then TDS has to be deducted on each installment paid.

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