I have purchased land , What Income Tax compliance I have to do for such land purchased?


  • Tax is deductible (TDS) when buyer paid consideration exceeding the Rs 50 lakhs at the time of credit of such amount to the seller or at the time of making payment. 
  • For the purpose of computation of threshold limit GST will be included.
  • Tax deduction rate is .01 percent In case PAN is not available rate will be 5 percent.

CBDT waives interest on demand raised due to disallowance of Sec. 87A rebate on income taxable at special rate

The Central Board of Direct Taxes (CBDT) has issued a circular to waive off the demand raised upon the taxpayers due to the disallowance of ...