Non deduction of TDS on property purchase
This query is : Resolved
29 November 2016
I had booked a flat of 59lacs and paid subsequently RS 11 LACS against booking. Now I come to know that I had to deduct TDS of 1% and submit of which I was unaware.How to proceed
29 November 2016
You have to deduct Tds on each Installment same to be submitted before 7th of subsequent month if overall consideration exceed Fifty lakhs.
29 November 2016
Do I have to pay penalty on delay in filing.I had paid instalment in September 2016
04 November 2021
Yes, interest will be levied by department.
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