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FAQ: How to procure TDS certificate? – Property Hotline
Posted
May 19, 2016
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50
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May 19, 2016
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3:27Now PlayingExpert: Suresh Surana, Founder of RSM Astute Consulting.
Question: Yasper Bharucha is planning to buy a flat in Mumbai. He wants to know if he has to obtain a TAN number from the IT dept in order to deposit 1% TDS. He wants to know what exactly is the procedure to pay 1% TDS and how he can procure a TDS certificate.
Answer: Yes, you have to deduct TDS @ 1% if the purchase consideration is more than INR 50 Lakh.
You are not required to obtain TAN for depositing of the said tax deducted to government treasury. This is because the tax authorities have facilitated such payment by using your PAN itself.
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