Higher TDS on property purchase

Higher TDS on property purchase

November 28, 2023

Mysore/Mysuru: The purchaser or buyer of the property at the time of making payment of purchase consideration shall deduct TDS at 1% on purchase of immoveable property wherein the purchase consideration of the property exceeds or is equal to  Rs. 50,00,000.

Before deducting the TDS at 1%, the purchaser shall ensure that the PAN and Aadhaar are linked and it is an Operative PAN. If not linked it becomes Inoperative PAN and purchaser of the property shall deduct TDS at higher rate of 20% on such Individual Inoperative PANs which have not been linked with Aadhaar.  Those who have not linked shall link the PAN-Aadhaar on payment of fee Rs.1,000. The fee payment for PAN-Aadhaar link need to be made through e-Pay Tax functionality available in Income Tax portal www.incometax.gov.in.

The prescribed fee must be paid under using Challan ITNS 280 – Major Head 0021 and Minor Head 500 and Assessment Year (AY) should be 2024-25, says N.D. Shreenivaas of Bhavani Associates, Mysuru.


Mysuru’s favorite and largest circulated English evening daily has kept the citizens of Mysuru informed and entertained since 1978. Over the past 45 years, Star of Mysore has been the newspaper that Mysureans reach for every evening to know about the happenings in Mysuru city. The newspaper has feature rich articles and dedicated pages targeted at readers across the demographic spectrum of Mysuru city. With a readership of over 2,50,000 Star of Mysore has been the best connection between it’s readers and their leaders; between advertisers and customers; between Mysuru and Mysureans.


Academy News Papers Private Limited, Publishers, Star of Mysore & Mysuru Mithra, 15-C, Industrial ‘A’ Layout, Bannimantap, Mysuru-570015. Phone no. – 0821 249 6520

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