Rural agricultural land is tax-free, urban land pays 12.5% long-term tax, and Section 54B can remove the tax if you buy new farmland within two years.
Buying property worth Rs 50 lakh or more? The buyer must deduct 1% TDS under Section 194-IA, file Form 26QB within 30 days and issue Form 16B. Full rules with worked examples.
Buying property from an NRI? The buyer must deduct TDS under Section 195 (now 393(2)) at 13%-14.95% on the full sale price. Learn the rates, Form 13 lower-TDS certificate, buyer compliance and how to claim a refund.