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Income Tax and TDS on Property Sale: Complete Guide for FY 2025-26 (Including Special Provisions for NRIs)
Selling property such as agricultural land, shops, residential plots, or flats comes with important income tax and TDS implications under Indian tax laws. This comprehensive guide explains the latest rules for FY 2025-26 (AY 2026-27), including special provisions applicable to NRIs.
1. Tax and TDS on Agricultural Land
Rural Agricultural Land
Rural agricultural land is not considered a capital asset under income tax law, so no capital gains tax applies on its sale. However, the transaction should be disclosed in your income tax return.
Urban Agricultural Land
Urban agricultural land is treated as a capital asset, and capital gains tax applies on its sale. If you reinvest the sale proceeds in another agricultural land within two years, you may claim exemption under Section 54B. If immediate reinvestment is not possible, you can deposit the amount in the Capital Gains Account Scheme (CGAS) to claim exemption.
TDS
No TDS is applicable on agricultural land sales under Section 194IA, even if the sale value exceeds ?50 lakhs.
2. Tax and TDS on Shops, Residential Plots, and Flats
Capital Gains Tax
Short-Term Capital Gains (STCG): If held for less than 24 months, gains are taxed at your applicable income tax slab rates.
Long-Term Capital Gains (LTCG): For holdings over 24 months, LTCG tax applies. Properties purchased after July 23, 2024, attract LTCG at 12.5% without indexation. For properties purchased before this date, LTCG is 20% with indexation or 12.5% without indexation, whichever is lower.
Exemptions
You can claim exemption under Section 54F by investing in residential property, or under Section 54EC by investing in specified bonds (NHAI/REC).
TDS
Under Section 194IA, buyers must deduct 1% TDS on property sales exceeding ?50 lakhs. TDS applies on the higher of sale consideration or stamp duty value.
3. Special Provisions for NRIs
TDS Rate: NRIs face a higher TDS rate under Section 195 — generally 20% plus surcharge and cess.
Capital Gains Tax:
LTCG: 12.5% (without indexation) or 20% (with indexation), whichever is lower.
STCG: Taxed at slab rates, usually 30% plus surcharge and cess.
TDS Deduction: TDS is deducted on capital gains. If the NRI obtains a lower or nil deduction certificate, TDS is deducted accordingly; otherwise, it may be deducted on the full sale value.
Exemptions: NRIs are eligible for exemptions under Sections 54, 54F, and 54EC if conditions are met. CGAS deposits can also secure exemptions.
Refunds: NRIs can claim refunds if excess TDS is deducted or apply for a lower/nil TDS certificate before sale.
4. Summary Table
Property Type Capital Gains Tax TDS Applicable? Special NRI Rules Exemptions
Rural Agricultural Land Not applicable No Not applicable Section 10(1)
Urban Agricultural Land STCG/LTCG No Section 54B, CGAS Section 54B
Shops/Plots/Flats STCG/LTCG Yes, Section 194IA/195 TDS @ 12.5%/20% + surcharge & cess Section 54F/54EC
5. Important Notes
These rules apply to sales on or after April 1, 2025 (FY 2025-26).
NRIs should plan for higher TDS and consider applying for certificates to reduce TDS.
Depositing capital gains in CGAS can help claim exemptions.
Always consult a certified tax consultant for personalized advice.
For More Information
For detailed guidance, visit the Income Tax Department website or consult a trusted tax expert.
JADEJA TAX SOLUTIONS – WhatsApp: +91 9558287744
Website: jadejataxsolutions.com
Stay informed and make your property transactions tax-efficient with expert help from JADEJA TAX SOLUTIONS!

ITR Filing Last Date Extended to September 15, 2025: Important Update for Taxpayers

The Central Board of Direct Taxes (CBDT) has announced a major relief for taxpayers by extending the deadline for filing Income Tax Returns (ITRs) for the Assessment Year 2025–26. The new last date to file your ITR is now September 15, 2025, replacing the earlier deadline of July 31, 20251 2 3 4 56.

Why Was the Deadline Extended?

The e

xtension was necessary due to:Significant Revisions in ITR Forms: The ITR forms for AY 2025–26 have undergone major structural and content changes to simplify compliance and enhance tran

sparency15.
System Development and Testing: Additional time is needed for the development, integration, and testing of the updated e-filing utilities, ensuring a smooth filing experience15.
TDS Credit Reflections: TDS credits from statements due by May 31, 2025, will only start reflecting in early June, reducing the effective filing window without an extension1 25.

Who Benefits from the Extension?

Salaried Employees: Most salaried taxpayers and those not requiring audit now have 46 extra days to file their returns1.
Tax Professionals: The extension provides much-needed relief to tax consultants and professionals, as the Income Tax Portal was not yet ready for filing as of late May 20251.
General Taxpayers: Anyone whose accounts do not require audit can benefit from the extended timeline13.

Key Points to Remember

New Due Date: September 15, 2025, for FY 2024–25 (AY 2025–26)1 2 3 4 56.
Penalty for Late Filing: A penalty of up to ?5,000 will be levied if the ITR is not filed by the new deadline1.
Filing Start Date: ITR filing for this year is expected to begin in June 2025, once the updated forms and utilities are live on the Income Tax Portal17.

What Should Taxpayers Do Now?

Prepare Your Documents: Use the extended time to gather all necessary documents and ensure your TDS credits are reflected correctly.
Wait for Portal Updates: Monitor the Income Tax Portal for the release of updated ITR forms and utilities before starting your filing process.
Consult Experts: Reach out to tax professionals for guidance, especially if you have complex income sources or deductions.

For expert assistance with your ITR filing in New Delhi, contact Jadeja Tax Solutions. We ensure accurate, timely, and hassle-free income tax return filing—now with the added benefit of an extended deadline!

Stay updated with Jadeja Tax Solutions for the latest tax news and compliance tips.

This update is brought to you by Jadeja Tax Solutions – Your Trusted Tax Partner in New Delhi.

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