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Real Estate Forum on Tds Scheme

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Definition of cost for purposes of TDS
Q: Are VAT, development charges, clubhouse charges, sinking fund contribution to be considered as part of cost for reckoning whether the cost exceeds Rs50lakhs?

tds scheme
tds payment
tds on property sale @ 1% under section 194ia
Latest Answer: Thanks for sharing the information. Me and my brother has bought a property for Rs 70 lakhs. But both of us have paid Rs 35 lakhs each. Do we have to pay the TDS as the property rate exceeds rs 50 lakhs or not?
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Bangalore Legal Legal in Bangalore
TDS for property above 50L with Home Loan
Q: Hi, I have purchased a property for 56L. I have gone in for 80% Home loan. I have been reading forums about the 1% TDS which is applicable. Last week I had my registration done but there was no questions asked on the TDS. I had also asked a couple of brokers in the Sub Registrar office if 1% TDS is really being collected. Most said no. However today the bank from which I took the loan asked if I paid the TDS - they said without me paying TDS they cannot release the loan amount to the builder. Can some one throw light on the procedure of tds payment when going in for home loan?

Also I need clarity if they builder should get 99% of property value and I pay the 1% to government? Or is it 100% of property value to builder plus 1% of property value to government?

tds scheme
Latest Answer: Hello Ritesh...if you are is going for property above 50 lakhs you have to pay TDS 1% . It is important to obtain the Permanent Account Number of the seller from whom such tax is being deducted at source. If the seller of the property do not have PAN Card, TDS would be deducted at 20 per cent.
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Hyderabad Legal Legal in Hyderabad
TDS Scheme.
Q: How the TDS scheme will help the government to control the transaction in the real estate?

tds scheme
real estate transactions
Latest Answer: Hi everyone, I read about this new scheme in an article in Commonfloor. I am sharing the link here- Property deals must be accompanied by TDS.
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