TDS on DDA Flat Purchase

Thanks you Sir for your kind suggestions. Regards!

@ Devesh Singh

You sorely missed the main difference.

It is called Eat the Cake and Keep it too. ( By DDA)

Understand plz:-

The 1% TDS is not the money withheld by the flat purchaser from DDA while making payment for the flat. This 1% is to be deposited to the Govt by the flat purchaser from their own pocket and obtain Form16B for giving to DDA, which will then show it to the Govt as rules kept correct.

So the DDA flat buyer would be spending 101% of the flat price + stamp duty etc of course.

Thanks you Sir for your suggestions. Regards!

What is the penalty on late payment of TDS?

@ Vishwajeet

Any late payment of tax attracts interest payment.

Plus penalty in some cases.

In case of depositing TDS to the Govt [by the party deducting the TDS], the penalty could be as high as 200% of the TDS amount.

https://busy.in/tds/penalty-late-payment-filing/