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PROPERTY BUYERS TDS
Booked flat for Rs 24 lakh in 2010, paid Rs 40 lakh over time, still no possession in 2026; homebuyers awarded full refund and Rs 2.5 lakh compensation eachThe case dates back to 2010 when the two homebuyers had made bookings for 3BHK flats in a housing society project initially proposed in Noi...- Booked flats in 2005, still awaiting possession: Builder ordered to pay 10.05% interest to homebuyers for nearly 20-year delayThe Bombay High Court, in its ruling, said a builder can’t indefinitely retain purchasers’ money while failing to deliver homes. For the de...
- Bengaluru techie earns Rs 1.7 lakh a month but still wants to sublet a room in his new home: 'Part of me feels trapped'A Bengaluru tech professional is experiencing significant financial stress after purchasing his first home. Despite a good salary, the home...
- New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
- Property buyer deposited TDS in wrong year? How Form 71 can help sellers claim credit and rectify the error within 2 yearsProperty sellers can now fix TDS credit mistakes. If a buyer incorrectly deposited TDS, sellers can file Form 71 within two years. This for...
- PAN-Aadhaar linking update: Relief from tax demand notice due to short TDS deduction for these taxpayersThe Income Tax Department is offering relief to taxpayers who received demand notices for short deduction or collection of TDS/TCS due to t...
- NRI wins capital gains tax case in Delhi High Court regarding sale of Rs 2 crore property despite Rs 46 lakh tax demand noticeAn NRI faced tax issues after a property sale in Pune for Rs 2 crore. The buyer used the wrong TDS form (26QB), causing problems. The Incom...
- Don’t forget to deduct TDS before buying property even if the seller is NRI as buyer will risk being labelled as tax evaderTDS on house property: The Income Tax Department said to follow Section 194 IA which relates to Tax Deducted at Source (TDS) on buying a ho...
- NRIs selling property in India face a maze of income tax, TDS rules: Simplification urged in Budget 2025Non-resident property transactions in India face compliance challenges, including obtaining TAN, depositing TDS, and filing e-TDS returns. ...
- 1% TDS on property purchase over Rs 50 lakh even in case of multiple buyers or sellersThe 1% TDS applies on the purchase price or the stamp duty value, whichever is higher. This amendment proposed in Budget 2024, comes into e...
- Property buyer may end up paying 19% TDS out of his own pocket for this PAN related issueTax deducted at source (TDS): If you are buying any property above Rs 50 lakh value then make sure to deduct 1% TDS before making the payme...
- Ease TDS rules for buying house property from NRIs in Budget 2024The government needs to facilitate ease of transacting and reduce compliance difficulties in buying property from NRIs. This is because a b...
- What are TDS rules on buying a house? How to deduct, deposit tax and download Form 16BWhen an individual buys a house, then apart from other formalites such as registering the sale deed, making payments etc., they are also re...
- How much TDS should be deducted on property purchased from NRITDS on the purchase of property from an NRI should be deducted from the sale value and the balance amount should be paid to the NRI seller.
- Purchased property worth more than Rs 50 lakh? Here's how to deposit TDS amountIt is important to get PAN of the seller and verify the same with the original so that there are no discrepancies later on.
- How to make payment of TDS on sale of propertyPAN of the buyer and the seller is mandatory to make e-payment of TDS on sale of property. However, the TAN (Tax Deduction Account Number) ...
- Buying non-resident’s flat involves TDS risksIf there’s no or wrongly deducted TDS, the I-T dept takes action- interests, penalties and imprisonment, against the buyer and not the non-...
- How to handle TDS on sale of propertyThe buyer is required to deduct TDS @ 1% on the total consideration and deposit the same in the account of the income tax authorities.
- Time-frame for depositing TDS on sale of property extendedAs a relief to property buyers, the Income Tax department has extended the time period for depositing TDS on sale of property by 23 days.
- Smart things to know: TDS on immovable propertyStarting 1 June 2013, the 1% tax deducted at source (TDS) has been applicable on the value of transfer of immovable property worth Rs 50 la...
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