Pankaj Bajaj, President CREDAI NCR & MD Eldeco Infrastructure

On the high value transaction tax, Pankaj Bajaj, President CREDAI NCR & MD Eldeco Infrastructure says “The idea behind 1 per cent TDS on property transactions of more than Rs 50 lakh is clearly to bring more and more property transactions under the tax ambit especially in the re-sale market where a significant component of the transaction value tends to be in black. This provision will also curb speculation in the property market.”