Tds/sale deed agreement

Querist : Anonymous (Querist) 01 February 2012 This query is : Resolved
Hello,

Does the TDS need to be substracted from the sale deed agreement for sale of a property? Does the seller have to pay the TDS at the time of registry, which will automatically be deducted from the consideration value or does this need to be made after the transaction when filling income taxes?

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Raj Kumar Makkad (Expert) 01 February 2012
Seller has to pay full amount of consideration at the time of registration of sale deed and he cannot deduct any TDS as asked for. The buyer and seller independently have to maintain their own accounts irrespective of the sale consideration and are liable to Income Tax as per relevant provisions..

Querist : Anonymous (Querist) 02 February 2012
So the seller doesn't need to pay the TDS at the time of sale deed registration? Will the buyer be held liable if the seller doesn't pay his income taxes?

Sailesh Kumar Shah (Expert) 02 February 2012
Can't answer the query, sorry.

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http://www.lawyersclubindia.com/experts/Guidelines-to-be-followed-275156.asp

prabhakar singh (Expert) 02 February 2012
Can't answer the query, sorry.

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