Introduction

TDS on Property

TDS is deducted at 1% of sale consideration if it exceeds Rs. 50 lakhs.

Eligibility

TDS Credit

Buyer must have deducted TDS, deposited it, and have a valid PAN and TAN to claim TDS credit.

Step-by-Step

Claim TDS Credit

Obtain TDS certificate, enter TDS details in ITR form, and claim TDS credit.

Example

TDS Calculation

For a Rs. 60 lakhs property, 1% TDS is Rs. 60,000, which can be claimed in ITR.

Mistakes

Common Errors

Not obtaining TDS certificate, incorrect TDS details, and not claiming TDS credit are common mistakes.

Rules

TDS Rules

New rules require 1% TDS on sale consideration exceeding Rs. 50 lakhs, effective from FY 2026-27.

Tips

Practical Advice

Obtain TDS certificate, enter TDS details correctly, and consult a tax professional to avoid issues.

Conclusion

Key Takeaways

Claiming TDS credit requires following the step-by-step process and avoiding common mistakes.

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