Buying property? Is it worth more than Rs. 50 lakh? Then this is for you. When buying a property worth more than Rs. 50 lakh, one percent of the amount has to be paid to the central government as TDS. The remaining 99 percent should be given to the seller. Well, if that’s the case, then it is fine, but if the seller does not have his Aadhaar and PAN linked, then you will have to pay 20% TDS. Many still do not link their Aadhaar and PAN. With this, the IT department is sending notices to many buyers. Especially those who bought houses above Rs. 50 lakh are being notified to pay 20 percent TDS. All of them are now lamenting. So, immediately contact the sellers and pressurise them. In this regard, before you buy a property, don’t forget to check if the seller’s Aadhaar and PAN are linked or not.
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