The property buyer did not cut TDS from the sale amount paid to seller.
In that case, is there any binding whatsoever or need to do by property seller if TDS not cut by buyer ?
Please advise.
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Impact on seller if tds not paid by buyer
Replies (5)
TDS needs to be deducted by buyer only if the sale consideration is more than Rs. 50L
Liability of paying TDS is on buyer. there is no issue for the seller on buyers default
Liability of paying TDS is on buyer. there is no issue for the seller on buyers default
u/194ia in case of urban land agricultral land is exempt u/s 10(38)
The sale amount is more than 50L. Buyer is demanding to pay the TDS amount back to him for him to pay TDS to avoid him to be charged by IT office for penalty and interest on late payment. Can the buyer by any court law or IT help compel the seller to pay him back that TDS amount?
tds will be deducted by buyer at any cost if seller does not provide info like pan card then deduct
30% or amount deducted whichever is higher
30% or amount deducted whichever is higher
Thank to All.
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