TDS Implications

[pradeep pandit]

Hi All

The new law makes it binding on the purchaser to deduct tax and deposit in the builders PAN account. The details of the article are available here:

http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIBG/2013/06/12&PageLabel=5&EntityId=Ar00501&ViewMode=HTML

I have requested for information and clarification on this thru email:

" Further to my discussions over phone few minutes back I wish to draw your attention to the news regarding:

 "deduction of  1% TDS and pay 99% of installment to the builder. 

It looks as though that is not only our responsibility to pay government the 1% TDS, but also to provide the builder the payment info (challan number/BSR code of the branch/date of payment/amount etc) to the builder for their smooth tax-filing".

Accordingly you are requested for the following:

1. Their PAN Account details 

2. Amount that has to be deposited as TDS 

Regards

Pradeep

[Pinal Dave]

Hi Pradeep,

Would you please share your email address? Let us discuss a few things.

[ajan daniel]

Hi All

Did anyone got the legal document of the property verified by any legal entity ?

Regards

Ajan

[Dipty]

Brigade is going to take care of paying 1%, you need to just sign a document to authorize them paying the 1% on behalf of you.

Thanks,
Dipty