Tds on property

Amarendra (SE) (21 Points)

12 June 2017  

Hi team,

I had booked an apartment on Nov 2015. The cost of the flat is 67 Lacs. But developer had 2 agreements, one is the sale agreement for UDS and other one is construction agreement.

The Sale agreement is somewhat 18 lacs and the Construction agreement is 49 Lacks. Do I need to pay the TDS @ 1% and submit the receipt to the builder. If yes, on what amout I had to pat the TDS?

 

I havent paid any TDS yet and I had already make a total payment of 65 lacs to the builder. How to proceed further.

 

Thanks

Amar