Tds on property

Rateesh (Accountant) (95 Points)

24 June 2016  
Dear All, One of my friend failed to deduct TDS for making installment payment to the builder. Now he is liable to pay interest for the late payment of TDS i.e.1.5%. My query is - Is it any Penalty for non payment of TDS or he is only pay the Interest. Thanks & Regards Rateesh