Clarification regarding TDS Deduction over property over 50lacs.


I have purchased an under construction property almost nearing possession at the time of sale in Noida for 60 lacs. 50% payment made to builder on behalf of seller and remaining 50% to seller. My question is whether now I deduct entire TDS for my seller or partly on builder and partly on seller.

Answers (1)


307 votes

Consideration value declared at the time of sale deed/ conveyance deed showing that how much amount you have paid against purchase of this property either directly or through their agent, The TDS will be deducted on the total consideration value declared as above. In the second part- if total value actual paid to the seller or to the agent/builder higher than consideration value excess amount paid treated as commission and no any TDS applicable on that excess amount considered as commission.


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