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TDS on Immovable property

TDS / TCS 495 views 1 replies

Person "A" had a sale agreement with Builder "B" for a immovable Property.

On each stage of development of Property the payment was made to Builder "B" and required TDS on each transaction is remitted on time. 

When the property is ready to move, "A" wants to sell/transfer the rights to me to get it registered on my name. 

Questions are :

1. During  registration , Should I remit 1% TDS again in the name of builder as my name is mentioned as BUYER in sale deed ?

2. Can we refer all the TDS remitted by "A" such that "those TDS  are remitted behalf of Me".

 

 

 

 

Replies (1)

Depends upon your agreement type, whether directly with builder or tri-party agreement.

In case of tri-party agreement, you have to deduct TDS over the amount paid to Mr.A.

No, no take over of TDS paid by first party,


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