Did you know that when you sell a property in India, the buyer is required to deduct TDS (Tax Deducted at Source) if the sale value exceeds ₹50 lakh? It’s crucial to comply with this regulation to avoid penalties and ensure a smooth transaction.
📌 Who is responsible? The buyer of the property must deduct TDS at 1% on the total sale consideration.
📌 When to deposit TDS? The deducted TDS must be deposited with the government within 30 days from the end of the month in which the deduction is made.
📌 How to file TDS? The buyer must file Form 26QB online and provide the TDS certificate to the seller in Form 16B.
Ensure compliance and avoid penalties! For expert assistance, consult us today.
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