Tds on property

You are required to pay the interest amount...

hii do i have to pay penalty also?

the promoter is saying he will not gt deduction of TDS for previous year so he is not paying the tds amount

No need of paying penalty amount now itself. But you are required to pay when you receive any notice from the Dept on dis regard.( No guarantee that you will receive it but in few cases you may receive)

TDS is deductible on payment basis. Non-complaince my incur followings:

1. Non- Deduction:

Interest u/s. 201(1A)(i) @ 1% per month from Tax was Deductible to actual date of tax deduction.

2. Non-payment after deduction:

Interest u/s. 201(1A)(ii) @ 1.5% per month from Tax was Deductible to actual date of tax payment.

3. Late submission of return:

Late fees u/s. 234E @ 200 rs. Per day maximum up to Tax amount as it is default covered under Sec 200(3) or under Proviso to Sec 206C(3)

Please pay the TDS at your earliest