Forums
Direct Taxation
Applicable to total amount or if two buyers of the property and exceeds Rs .50 lakhs sales value , two buyers need to deduct while making payment ?
Answers (18)
Thread Starter
Balamurali Unnithan M SIf joint buyer ?
Any number of buyers, if the overall cost of immovable property is more than Rs.50 lakhs then the buyer (all buyers in case of joint buyer) has to deduct.
Thread Starter
Balamurali Unnithan M SRate of tds now , 20.3?
Uptil 13th May 2020 it was 1% from 14th May 2020 to 31st Mar 2021 its 0.75%
Thread Starter
Balamurali Unnithan M S195 Applicable , payment to NRI ies , 20.3 applicable ?
When a resident buys property from an NRI, she/he must deduct TDS at 20% if the property has been held for more than two years and at 30% if the property is being sold within two years. The deduction must include TDS plus surcharge, health and education cess. So it is 20.8%
Thread Starter
Balamurali Unnithan M SThank u mam , due to covid , rate is ?
There is no lower rate for 195
Thread Starter
Balamurali Unnithan M SProperty sold within 2 years - 20% And sold after 2 years - 20.8??
20% is the TDS and 0.8 is due to cess