TDS payment on Property Purchase
Our TDS payment service covers:
- Payment of TDS to government on purchase of property
- Obtaining form 16B / 16A that buyer needs to provide the seller or builder as proof of payment
Property buyers are required to deduct TDS at following rates and pay it to the Income Tax Department.
- TDS of 1% of purchase price u/s 194A if purchase price exceeds 50 lacs and seller or developer is a Resident Indian
- TDS rate of 20% u/s 195 when seller is a NRI.
- Non deduction or payment of TDS is subject to severe penalties and interest