Union Budget 2013

Q: Hi..what is the TDS announced as per the budget 2013. Also give related information.

Ramakrishna, Hyderabad

1st March 2013

Real estate News in Hyderabad

home loan

interest rate

union budget 2013

tds

tax benefits

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Replies (5)

Few other things in Budget 2013 are surcharge charges and excise duty. The surcharge charges for companies earning profit beyond Rs 10 crore has been increased from 5 percent to 10 percent, which is discouraging. On the other hand, increase in excise duty on marble from 3o percent to 60 percent will also affect the cost of housing.

Neha Srivastava, Delhi-NCR

6th March 2013

Comment

Hi all..i totally support this step of TDS. The best part is that it will be charged on gross transaction (not net gains), it will highly impact (cash inflow) sellers when sales are at loss or negligible. It is believed that is move will check speculations and decrease frequent transactions of property.

Dwarkesh,

5th March 2013

Comment

Hi all..i hope you have also heard about the home loan benfits. There is an additional interest deduction of Rs 1 lakh to taxpayers taking home loans for the first house up to Rs 25 lakhs in the year 2013-14. It is very helpful for middle class people.

Sujan Mitra,

5th March 2013

Comment

Yes Dwakesh...Although the real estate industry and many experts are not happy with the TDS move but i am sure it will improve accountability and reporting in high-value immovable property transactions in real estate markets of Mumbai and Delhi.

Dhiraj,

4th March 2013

Comment

Hi Ramakrishna...the Finance Minister has announced the introduction of one percent Tax Deducted at Source (TDS) on immovable property transfer exceeding Rs 50 lakhs. Agricultural land is exempted from this.

Dwarkesh,

4th March 2013

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