Withdraw TDS on property transfer: Modi writes to PM

In a letter to Prime Minister Manmohan Singh on Thursday,Chief Minister Narendra Modi demanded to immediately withdraw the tax deducted at source (TDS) on the transfer of immovable properties.

Written by Express News Service | Gandhinagar | Published: April 13, 2012 6:14:53 am

In a letter to Prime Minister Manmohan Singh on Thursday,Chief Minister Narendra Modi demanded to immediately withdraw the tax deducted at source (TDS) on the transfer of immovable properties.

He said the newly introduced provision of TDS is against the interests of people and would adversely affect the federal structure of the country.

“By introducing such a provision,it appears that the Government of India intends to collect tax at the earliest point of time. Government of India may also be intending to have a reporting mechanism of transactions in the real estate sector,” the letter stated.

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