Tds on home purchase

yes, you pay 54.45 lakh ie. after deducting the TDS rs.55000/- on name of builder. this TDS challan also showing in Sale Deed or papers.for understanding you think that you pay 54.45 directly to builder and balance .55 mode of challan , which benifit to builder when they file their ITR, as a advance tax.  

Yes, you have to deduct the tax @ 1% on the value of Immovable property if the value is above 50 Lakhs, and have to deposit the deducted amount not later than 7th day of the next month in which tax has been deducted, you have to pay the amount deducted to the credit of government through filing a statement in Form 26QB and need to provide Form 16B to the Deductee.

Thanks for useful information 

Respected sir,

I paid x rs as TDS under section 195- paid to an NRI fro purchase of his flat. (I have Tan number ) Now How shall I get a report ? Should I register to see the deatils of TDS paid ? I tried to register under Traces , filled up things , iit asks TOKEN / NUMBER or some number - I filled the acknowledge number  , but it says invalid details. Pl help

vijayakumar