Question ID : 35859

TDS on Property

An individual buying Commercial property from a partnership firm has to deduct TDS @1% from seller if value exceeds 50 Lacs. A major part was given through cheques on the basis of oral agreement but wrtitten agreement/Title deed is yet to be Executed. Whether TDS will have to be deposited adding interest @1.5% to TDs amount for Advance payment .

posted by Mahesh Kumar on Oct 27 2018 12:00AM