14 October 2013
I have purchased a property which is financed by bank and diretly remitted the loan amount to the seller.. then who is liable to deduct tax. kindly clarify. Thanks in advance
In such cases, to the extent of the loan amount, the bank or finance company would directly make the payment to the seller, and not route the payment through the purchaser, who is the borrower.
For more details go thru this article By Manoj B. Gavali..
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