land related

Q & A ForumCategory: Real Estateland related
Namishnegi12 asked 9 years ago
hi shree, i recently finalized a land(2000 sq ft) deal of rs 25 lakh for the construction of house 5 year , since its a agricultural land hence cant go for loan for the purchase of land, today i paid 25% of the total amount which is supposed to be paid till oct 2017.which is the best mode to pay either (cash or cheque), what TDS i will have to bear for paying the full amount. circle rate for the area us 5885 sq ft namish
1 Answers
Sreekanth Staff answered 9 years ago
Dear Namish, What would be the Registered value in Sale deed? As much as possible, advisable to complete the transaction through non-cash mode only. TDS of 1% is payable by the buyer if the registered value is more than Rs 50 Lakh.  
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