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1 % TDS on Property

Income Tax - Started By: - Aman Singh - Dated:- 10-12-2017 Last Replied Date:- 11-12-2017 - Hi,I bought an apartment with a sale consideration value of around 60 lakh and currently under-construction. Construction started in 2014 and will get hand-ov .....

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1% TDS now to government before possession, then I would not be liable for any late charges or fines? Kindly suggest. Regards,Aman - Reply By ANITA BHADRA - The Reply = Dear Sir , Tax needs to be deducted at the time of payment either it is payment o .....

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entIf you have paid any installment and going to pay whole amount in one go , you would not be liable for late charges or fine .Regards - Reply By Aman Singh - The Reply = Hi Anita,Thanks for your response. After initial 20% down payment, rest other .....

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ll pay 1% TDS for total booking value then shall I be liable for late charges or fines ?Thanks. - Reply By ANITA BHADRA - The Reply = Dear Sir You have not deducted tax at the time of down payment and installments,you will be liable to pay interest o .....

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e fee and penalty for submission of Form 26QB . Relevant provisions :- section 201 of Income Tax Act,1961 Act expressly states that any person liable to deduct TDS on the income distributed, makes default in deduction and / or payment of TDS shall be .....

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ich such TDS was deducted to the date on which such TDS is actually paid. If TDS is not deducted: In this case one percent (1%) for every month or part of a month on the amount of such tax from the date on which such TDS was deductible to the date on .....

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