06 June 2017
we have purchased property cost exceeding 50Lac
while payment we have deducted and paid 1% tds.
Now we have to pay some amount to seller as development deposit, Club membership and Legal documentation fees with service tax there on.
which is around 25 lac
do I need do deduct tds from the same?????
please guide me.
06 June 2017
Tds to be The buyer has to deduct TDS at 1% of the total sale consideration. Note that the buyer is required to deduct TDS, not the seller.
If additional amenities are included is considerations than on same tds to be deducted.