TDS payment on Property Purchase

Our TDS payment service covers:

  1. Payment of TDS to government on purchase of property
  2. Obtaining form 16B / 16A that buyer needs to provide the seller or builder as proof of payment

Relevant Income Tax Rules:

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