TDS on Purchase of Immovable Property under section 194IA
Under Section 194-IA of the Income-tax Act, 1961, any person (buyer) responsible for paying consideration for the transfer of an immovable property—such as a house, apartment, building, or land (other than agricultural land)—is required to deduct Tax Deducted at Source (TDS) at the time of payment to the seller. Rate of TDS The buyer must…
