Finance Minister has withdrawn TDS on sale of purchase of immovable Property
old proposal given in Original Finance Bill 2012 is given here under for academic purpose only
Under the existing provisions of the Income-tax Act, tax is required to be deducted at source on certain specified payments made to residents by way of salary, interest, commission, brokerage, professional services, etc.
- Fifty lakh rupees in case such property is situated in a specified urban agglomeration; or
- Twenty lakh rupees in case such property is situated in any other area.