Bangalore: State government has announced to implement the section 194-IA in budget of 2013-2014 which will come in order since June 1. According to this section, the buyers will have to pay TDS (Tax Deducted at Source) on the property they are going to purchase or have already purchased.The state government stated that before the registration of the property buyer has to provide TDS documents on sale or transfer of the property except for the agricultural land. The TDS will be levied on the lands which involve transaction 50 lakhs or above. The transaction will be observed by the sub-registrars and ethical steps will be taken for such cases.The workshop was organized by the IT department and the stamps and registration department to clear the objection and confusion and to educate sub-registrars on the section 194-IA. Only 1 percent TDS is charged on the total transaction amount, but if the seller is unable to provide PAN then the buyer can deduct 20 percent tax.In most of the transactions buyer remains untraceable hence sub-registrars should ensure that the PAN numbers and permanent address of the seller must be taken from the seller.In last fiscal stamp and registration department collected Rs 5,260 crores as revenue out of which 60-70 per cent was collected from urban Bangalore.About 12,000 properties were registered in the year 2010-2011 whereas 2011-2012 accounted for the 3 lakh registrations. The buyer of the property has to pay this TDS and it should be paid before property registration takes place.займ на карту без отказов круглосуточновзять кредит онлайн