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Can we cut the TDS at the time of registration?- Property Hotline
Posted
September 22, 2016
Views
2,085
Likes
6
Comments
1
Engagement
0.34%
September 22, 2016
2,085
6
1
0.34%
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5:23Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: I bought a penthouse in Gurgaon through a construction linked plan. As per the government rule, I paid 1% TDS. I made a few payments late and had to pay a penalty of Rs 200/day. Shouldn't the builder inform us when to pay 1% TDS? Can we cut the TDS at the time of registration?
Answer: Deducting TDS is your duty and although most builders do inform you, they are not bound to inform buyers to pay TDS. You can deduct TDS upon payment and not registration.
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