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FAQ: How much TDS has to be paid in a property? - Property Hotline
Posted
June 16, 2016
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309
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June 16, 2016
309
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4:09Now PlayingBe Un Confused
Expert: Samir Kanabar, Partner, Ernst & Young
Q: I bought a property in Bangalore in 2013. I took loan of over 50 lakh and paid 95% of amount. In month of June TDS rule came in. Only amount pending from my side was 5%. And I paid it in 2014 during registration. What is my liability towards TDS?
Answer: Post June 2013, the payments which are done by you are only the one upon which there is a liability to deduct 1% tax. You have to pay the TDS only on the 5% of the remaining amount that you paid in 2014. But you are also prone to pay 1 % interest because of the delay.
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