House property

300 views 4 replies
I am going to buy House property in chennai which costs RS.1 crore.For which I am going to take housing loan of 20 Lakhs .Also I will sell residential land for 30 Lakhs.I want to know TDS to be deducted for 1. Pur of house property at what rate 2. Sale of residential land at what rate 3. How to treat housing loan when filing ITR?
Replies (4)

1. If you are buying property from a resident, deduct TDS @ 1%

2. If the land sold is a long term asset, you can claim deduction u/s 54F. provided on the date of transfer you do not own more than one residential house property. 

3. I am assuming you are buying ready house. In that case. You can claim the principal on repayment of housing loan u/s 80C  upto 1.5 lakh and interest u/s 24b as deduction 

I am buying property from resident and 1 % tds . I (buyer) or seller of the property should deduct and file it by form no 26QB
It is the buyer's duty to deduct tds
Thank you very much

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details