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Home > Forum > Bangalore > Property Selling > IS there any TDS for reselling the property

IS there any TDS for reselling the property

Q: I have property in Prestige and want to resell it , i would like to know is there any kind of tax is given or deducted to government. If yes , then please do let me know complete process

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1% Tax Deduction (TDS) On Property Sale From 1st October, 2012 have been imposed against purchase of immovable property (other than agricultural land). 1% tax on the total amount if the value of the property is more than Rs 50 lakh in case of urban areas and Rs 20 lakhs in case of other areas. I do not have any idea whether it is also applicable for resale property.
Jijo


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