Hi,
I purchased a flat on 2012 from a builder. Builder buyer agreement was done in nov 2012. the basic consideration was approx. Rs. 63L . I took home loan from bank. my deal was under subvention schedume of 95% of loan was disbursed and paid to builder in dec 2012. 1% TDS rule was implimented in june 2013.
Last 5% amount was paid to builder in aug 2023. registery is pending till nov 2024. Builder is asking RS 58000/- to be deposited as TDS since then.
My question is : Is this transaction attact 1% deduction of TDS ? if yes, why ? i have paid 95% with VAT before implimentation of TDS rule.
when it is supposed to be paid ?
CAclubindia
