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Who will have to pay TDS on buying a flat?- Property Hotline
Posted
December 22, 2016
Views
3,745
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December 22, 2016
3,745
25
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4:47Now PlayingExpert: Suresh Surana, Founder, RSM Astute Consulting.
Question: While buying the flat, we had paid full amount in lump sum. No TDS. So, the builder will pay the tax or will we have to pay later?
Answer: Assuming that your transaction value is more than Rs 50 lakhs then you have to deduct tax at the rate of 1%. Late fee of Rs 200 per day for late filing of TDS return. Pay tax and recover the same from the seller.
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