Payment of tds while buying a flat

This query is : Resolved

manish rabhadia (Querist)
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08 July 2014 Hi,

One of my client is buying a flat of 75+ Lacks in Mumbai, and builder is demanding him to pay 1% TDS, so what is the procedure for the same, can anyone help me in this regard!

Thank you.

Ganeshbabu K

Ganeshbabu K (Expert)
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30 October 2014 person who is buying the flat have to deduct 1% of consideration out of consideration amount and balance amount only have to pay to seller.
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tds deducted have to be paid to govt directly in form 26QB

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