IS IT POSSIBLE TO PAY TDS ON SALE OF IMMOVABLE PROPERTY BY SELLER INSTEAD OF BUYER? IF POSSIBLE, CAN ANY ONE PLEASE TELL ME THE PROCEDURE....
3 Replies
CA Meetali
(Practicing Chartered Accountant)
(145 Points)
Replied 02 February 2015
No, TDS is required to be deducted only by the buyer as per section 194-IA of Income tax Act, 1961
gopi krishna
(Article Assistant)
(66 Points)
Replied 02 February 2015
| Originally posted by : CA Meetali | ||
 |
No, TDS is required to be deducted only by the buyer as per section 194-IA of Income tax Act, 1961 |  |
thanks for ur reply... if Tds is not deducted by the buyer at the time of making payment then what to do?
CA Meetali
(Practicing Chartered Accountant)
(145 Points)
Replied 02 February 2015
It is better to deposit the TDS amount with interest for late deduction @ 1% p.m. and collect the TDS amount from the seller.
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