Who will deduct TDS - Buyer or Seller?

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  1. Tarique Shaikh

    Tarique Shaikh New Member

    Dear Concern,

    I am working in Saudi Arabia (NRE Account Holder), I am interested in buying a flat in Mumbai.

    I need clarification for 1% TDS amount.

    *Who will pay the TDS amount?
    *Is it the Buyer or Seller?
    *And is it refundable?

    Thanking you in advance,

    Awaits your swift response!

    Regards,
    Tarique Shaikh
     
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    The buyer of property is required to deduct the TDS @ 1% and deposit the same with govt.

    He will deduct this amount from the amount which was to be paid to the seller
     
  3. Tarique Shaikh

    Tarique Shaikh New Member

    Thanks Yatin Gandhi.

    Is it refundable?
     
  4. rudrabose

    rudrabose Active Member

    This is sellers money which you would be depositing with the govt.

    You dont have any right over this money. Its the money of the seller.
     
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